Q: Parents own tiny parcel of useless land nobody wants to buy. Want to quit ownership. Don't know how. Please help!
A:
If you are on the deed, there are various ways to get rid of property. These range from: (1) gifting; (2) donating; (3) abandoning (this may take up to 5 years); (4) not paying property taxes (this presents other issues), etc. For most people, donation or gifting for a nominal sum is usually the preferred method.You should contact a real estate attorney to see which option(s) work the best for you.
If you are not on the deed, but will be placed on the deed from a probated estate, you can simply refuse the devise. Again, contact an attorney about how to do this. Note, this assumes that the transfer has not already occurred.
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