How canI take my name off a property my brother andI inherited but not lose the rights to my half of the property?
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How canI take my name off a property my brother andI inherited but not lose the rights to my half of the property?
My brother is disabled and can get tax breaks.
Asked on October 31, 2010 under Real Estate Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
The problem I have here is that I feel like you are asking how to perpetrate a tax fraud in order to come out best on this property. Maybe I am wrong but it certainly does not feel right to answer this question. How to structure the property financially is best asked to by an attorney in your state. But if you take your name off the deed you lose ownership rights unless the law in your state allows you to have a separate contract with your brother as to the property. I am assuming that you hold it as joint tenants but with of without rights of survivorship? I do not know if your state laws allow such a thing. Seek legal help in your area.
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