[NY] [NY] Where do I find the parcel number for a transfer on death deed? Should I list two primary beneficiaries?
I have two questions. In Brooklyn, New York, is the assessor's parcel number just the lot and block numbers? If I want my transfer on death deed to go to both my wife and daughter, should I list them both in the primary beneficiaries section or should my wife be the primary and my daughter the alternate? What are the pros and cons of putting them both as primary?
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Thank you for your questions. Let’s address each one:
- Assessor’s Parcel Number (APN) in Brooklyn, NY:
In NYC, including Brooklyn, the APN is commonly referred to as the Borough, Block, and Lot (BBL) number. This identifier is used for property assessment, taxes, and administrative purposes. So yes, the APN is made up of the Borough, Block, and Lot. You can use NYCityMap to find yours. Select BBL or BIN from the dropdown menu, or input your address. - Transfer on Death (TOD) Deed Beneficiaries:
If you list both your wife and daughter as primary beneficiaries, they will inherit the property equally (RPP Chapter 50, Article 12, Section 424(3)). This ensures both receive their share at the same time, but also means future decisions about the property must be made jointly, which could lead to disputes if they disagree. If you make your wife the primary and your daughter the alternate, your wife gets the property first. Your daughter would only inherit if your wife predeceases you or cannot inherit. This setup can simplify succession and reduce conflict, but your daughter would not receive anything unless your wife is unable to inherit. Your decision should take into account family dynamics and the likelihood of cooperation or conflict.
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I have two questions. In Brooklyn, New York, is the assessor's parcel number just the lot and block numbers? If I want my transfer on death deed to go to both my wife and daughter, should I list them both in the primary beneficiaries section or should my wife be the primary and my daughter the alternate? What are the pros and cons of putting them both as primary?
Infolawyer
Good afternoon and welcome to AskaLawyer. Please give me a moment to review your question. Note that I am a hearing-impaired expert, so phone calls are difficult for me. Thank you for understanding.
Of course.
Infolawyer
Thank you for your questions. Let’s address each one:
- Assessor’s Parcel Number (APN) in Brooklyn, NY:
In NYC, including Brooklyn, the APN is commonly referred to as the Borough, Block, and Lot (BBL) number. This identifier is used for property assessment, taxes, and administrative purposes. So yes, the APN is made up of the Borough, Block, and Lot. You can use NYCityMap to find yours. Select BBL or BIN from the dropdown menu, or input your address. - Transfer on Death (TOD) Deed Beneficiaries:
If you list both your wife and daughter as primary beneficiaries, they will inherit the property equally (RPP Chapter 50, Article 12, Section 424(3)). This ensures both receive their share at the same time, but also means future decisions about the property must be made jointly, which could lead to disputes if they disagree. If you make your wife the primary and your daughter the alternate, your wife gets the property first. Your daughter would only inherit if your wife predeceases you or cannot inherit. This setup can simplify succession and reduce conflict, but your daughter would not receive anything unless your wife is unable to inherit. Your decision should take into account family dynamics and the likelihood of cooperation or conflict.
That makes a lot of sense and I appreciate such a thorough response.
Infolawyer
You’re very welcome.
Infolawyer
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