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Co ownership

Posted on: 07th Oct, 2013 12:01 pm
My grandmother and father are on deed together. My father has been inhabiting the property for over 20 years. My grandmother was added to the deed at the same time as my father, about ten years ago. My uncle now has power of attorney for my grandmother. My father wants to sell the property. My grandmother hasn't ever paid any of the taxes, made any improvements or lived on the property. How does he go about having her removed from the deed? Does she need to be bought out after the sale? Could he legally buy her share from her and then sell the property? If he buys her out after the sale, could he deduct half of the taxes he has paid on the property since she was added to the deed? Half of provable improvements? Is there a way to have her removed if her half of the taxes owed equal more than half of the property's value? Any information on this complicated matter would be helpful.
Hi Crystal!

Welcome to the forums!

Your grandmother can sign a quitclaim deed and transfer her share of the property to your father or uncle. This will make them sole owners of the property and they can easily sell off the property. As she was one of the co-owners of the property, she can claim a certain portion from the sale proceeds.

Feel free to ask if you've further queries.

Sussane
Posted on: 07th Oct, 2013 08:40 pm
Hi Crystal,

Once she transfers the property to you, it will be easier for you to sell off the property. You will not have to take her permission or signatures while selling off the property.

Thanks
Posted on: 08th Oct, 2013 09:48 pm
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