Q: Mom did a Lady a bird deed on her house. I am one of 9 on deed. Can I sell my share to 1 of the others listed on deed?
I want to sell my share of the home to another person named on the deed. What's the paperwork schedule, and do all deed holders need to sign off on the transaction?
A:
Yes, assuming the two of you can agree to terms. Indeed, absent EVERYONE wanting to sell their interests, this is probably the ONLY way to sell your interest, as nobody else would be rationally interested in buying a partial share.
A caveat though -- please don't try to do this without legal advice. There are specific procedures needed to do this, you have reporting requirements and if you do this wrong, it can impact your taxes significantly!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
A: The short answer is that you could sell your interest to one of the other joint owners without the others joining in the conveyance. However, you have not furnished enough information to identify the result. It is possible that you would sell nothing. A "Lady Bird" deed is one in which the grantor retains a life estate as well as the power of conveyance. If this is what was used by your mother, and if she is still alive, the grantees under the deed don't yet have a vested interest in the property.
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