Legal Question in Real Estate Law in New York

Can I rescind a joint tenancy I recently entered into with a relative, for which I did not change them a dime, only included them as a gift to them. Now they are causing huge problems making me regret the gift.


Asked on 2/20/17, 2:30 pm

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

Interesting question.

My first thought is that while you have described this transaction as a gift, it doesn't qualify as a gift because your relative does not have complete control over the property. This would be called an "incomplete gift" until such time as it is exclusively in your relative's name, and only then would it be a complete gift, and you would have no recourse.

Until then, either party can terminate a joint tenancy and take the entirety of the property for themselves. I would get that done before your relative wises up and removes your name and keeps the entire property and there would be nothing you could do about it.

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Answered on 2/20/17, 2:40 pm


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