How can a warranty deed with a lifetime estate be changed?
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How can a warranty deed with a lifetime estate be changed?
My father has deeded my sister and I his property with a life estate. There are 3 other siblings involved and this has created hard feelings. I would like to change the deed and add all siblings, or remove myself completely from the deed. My father is listed as grantor and my sister and I are listed as grantees. Who has the power to change this deed?
Asked on October 31, 2010 under Real Estate Law, Mississippi
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I would seek help in this matter for two reasons: to make sure that the type of deed that was executed is the proper one and the best one here and to see how to accomplish what you want. Generally, a warranty deed does not allow you to retain any interest in the property so your Father could not retain a life estate. That could be different in your state, however, which is why you need to check. Second, you can refuse any bequest to you at any time (called denouncing your bequest). What will happen depends then on the rest of estate planning. Generally speaking, a life estate deed can only be changed by the grantor. This is so the grantees can not throw the grantor off the property. Good luck.
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