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Hot - R7-B Zone

$850,000 Great location

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Address: Astoria	City/ST: Astoria, NY	Zip Code: 11102
Location: Astoria	Property Type: Land	New or Resale: Resale
Square Footage: 2925	MLS# Bdy

Great property for builders on 25 x 117, R7-B zoning. Right off Astoria Blvd. Potential use for 10 Family building with Medical facility on the ground floor. There is existing one-storey structure on the property that is rented out to a Travel agency. Will be vacant on Title

Last Updated: 2/28/2009 12:12:34 PM

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Titles >Ways to Hold Title

When two or more people purchase property together, there are three ways that the title can be held. Knowing the implications of each form of ownership will help you decide how to write your deed.

"Tenancy by the entireties" is reserved exclusively for married people. Both husband and wife own an undivided interest in the property. On the death of one party, the surviving spouse owns the entire property and no probate will be necessary. When unmarried persons buy a home together, they should seek legal advice regarding how title should be held. As "tenants in common" each party owns a percentage interest in the property. On the death of one party his or her interest does not go to the surviving owner but is distributed in accordance with the will of the deceased, whose estate must be probated. As "joint tenants" each party owns an undivided, equal interest that passes automatically to the surviving joint tenant. Probate is not necessary if the deed reads "joint tenants with rights of survivorship".

It is important to know that in most courts, if a deed is written without specification of how title is held, the property is titled as "tenants in common."

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Q	What does the term ARM stand for?
A	An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
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Nelly Andrushenko, REALTOR�, real estate agent and broker for Whitestone, Flushing and Bayside, New York home listings, property and land for sale - NUMBER1EXPERT

Nelly Andrushenko
Power Realty Inc.
148-29 Cross Island Parkway
Whitestone, NY. 11357
718-747-0411
917-406-4922
Fax: 718-747-0504
Email: nelly@nellyshomes.com
Nelly Andrushenko started her career in Real Estate in 1989 and after being affiliated with a prominent local Real Estate company for a number of years, Nelly joined one of the Re/Max offices where she worked for four years. In March of 2002, Nelly founded her own Real Estate company, "Power Realty, Inc.". She is constantly in search of knowledge and ways to perfect her customer service. Nelly's enthusiasm and dedication to helping people has brought her success and recognition as a Top Realtor in Northern Queens. If you�ve been thinking of buying or selling a home in the near future, please call Nelly (718) 747-0411 or email her at nelly@nellyshomes.com"

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