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ESTATE OF BARBARA BOBB, Deceased

ESTATE OF BARBARA BOBB, Deceased (11/2439/B) — Before the court in this turnover proceeding is the question of the validity of a 1983 agreement between petitioner and decedent.

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ESTATE OF BARBARA BOBB, Deceased (11/2439/B) — Before the court in this turnover proceeding is the question of the validity of a 1983 agreement between petitioner and decedent.

In 1983, the parties jointly purchased a building in the borough of Manhattan. The purchase price was $58,000. The agreement allowed the survivor of the two parties, upon the death of the other, to acquire the decedent’s share at one half of the 1983 price or $29,000. The agreement also provided that any expenses incurred in connection with the building would be shared jointly by the parties. On June 20, 2007, decedent executed a Last Will and Testament, bequeathing her one half interest in the property and her residuary estate to her daughter and grandsons. She named her daughter, respondent here, as her executor. Decedent died on April 19, 2011. The court issued a decree admitting the will to probate on September 20, 2011. Five months later petitioner commenced this turnover proceeding.

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