Q: I inherited a lake house from a grandparent via a Lady Bird Deed, but the land deed isn't in our name.
They found a descendant of the original land owner and they are willing to negotiate. Our grandparents have always said they owned the land, did all the upkeep, paid all of the taxes, and everything that comes with it. Is there any documentation I should be looking for? Is there a way to prove it is ours? If we come to negotiating do we go off of the land value in 1978 when the original house was purchased?
A:
Your question isn't exactly clear.
If there is a ladybird deed you record the death certificate and the deed is then 'in your name'
Are you suggesting your GRANDPARENTS didn't actually own the property they deeded to you?
Was there some sort of 'mistake' made when grandparents bought the place?
Something else going on?
Any way you slice it, THAT would be an issue that you MUST consult with a local attorney to clear up what (if anything!) you can do.
There could be a claim that you have an 'adverse possession' claim with tacking to take your grandparents actions into consideration but that is a VERY complicated fact situation to argue and you need an attorney to insure this is done right.
Brent T. Geers agrees with this answer
A: If the property was never titled in your grandparent's name, then unless they had a purchase agreement with the owners, or a lease option or a land contract, then you should take the opportunity to negotiate the purchase with the rightful owners. See more at www.provenresource.com
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