I own my old family home jointly with my sister. I want to transfer my half to my daughter. Can this be done without my sisters agreeing to it?
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Read More Answered By: Jerome Gamache |
Yes, you can deed your interest in any property to someone else without the permission of joint owners, assuming there is no right of first refusal or restrictive language in the current deed. A deed is not expensive, $150 plus applicable recording cost and transfer taxes.
Whether or not it is prudent to create a situation where there may be resentment or difficulties with the the new owner and joint tenants who were not consulted is another consideration.
A legal issue to consider is that a Joint tenant automatically becomes vested with the interest of any joint tenant that passes away, if all joint tenants agree that can continue with a new tenant, but if they do not agree, then the legal status of all is "tenants in common" and each has a divideable interest that does not automatically pass at death, it would pass in that person's Will. Again, whether or not that issue matters needs to be considered. |
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