Q: How do I go about getting my name off a ladybird deed as a remainderman?
I am 1 of 3 remainders on a ladybird deed in michigan. My grandmother ( the grantor ) passed away in 2016. I currently live in the house along with 1 of the other remainderman. My fiance and I are currently in the market for our own home. Once I move, I no longer want any type of responsibility to the current house I am on a ladybird deed for.
A:
You transfer your property interest to someone else, usually one or all of the other co-tenants since they are the ones who will get the most value from that. HOW you do that depends on what you would like to get out of the deal. The best response is to contact a local lawyer to discuss your options and decide how you and your co-tenants want to proceed. Be sure to share ALL the documentation such as deeds, property transfer affidavits and death certificates with that lawyer.
One point of clarification though, you are no longer a 'remainderman' if your grandmother has passed. You are some sort of co-owner at this point, and the details of that arrangement will vary depending on what kind of co-tenant you are. That will be explained by the deed.
Seek out that local legal representation
1 user found this answer helpful
A: If the grantor has passed, there should now be deeds filed effectuating new ownership. You could elect not to be on that deed, and therefore you would have no ownership interest or responsibility. Regardless of what you agree with with the other remaindermen, all of you should work toward finalizing this.
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