How can a warranty deed with a lifetime estate be changed?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How can a warranty deed with a lifetime estate be changed?
My father has deeded my sister and I his property with a life estate. There are 3 other siblings involved and this has created hard feelings. I would like to change the deed and add all siblings, or remove myself completely from the deed. My father is listed as grantor and my sister and I are listed as grantees. Who has the power to change this deed?
Asked on October 31, 2010 under Real Estate Law, Mississippi
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I would seek help in this matter for two reasons: to make sure that the type of deed that was executed is the proper one and the best one here and to see how to accomplish what you want. Generally, a warranty deed does not allow you to retain any interest in the property so your Father could not retain a life estate. That could be different in your state, however, which is why you need to check. Second, you can refuse any bequest to you at any time (called denouncing your bequest). What will happen depends then on the rest of estate planning. Generally speaking, a life estate deed can only be changed by the grantor. This is so the grantees can not throw the grantor off the property. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.