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LHow do I reverse or refuse a deed if gift?
Anonymous2 views2 answers
My aunt died intestate, leaving her modest house to 6 heirs. We had a buyer for the house but 3 heirs (sisters) refused to sign off on the sale. After 2 years, the buyer moved on. The unoccupied house has been declared “derelict” by the City of Norfolk, Va. and they are requesting demolition, for which we will have to pay.
The sisters just transferred their interest in the house to me-- without my consent, via a deed of gift which has been filed with the circuit court. Since this will only increase my liability, I want to refuse or reverse the deed of gift. What should I do?
You can certainly 'gift' all your shares back to those three heirs, but I bet there is a better solution available depending on how you now own the property. I would STRONGLY suggest you consult with a local real estate attorney to determine what if anything you can do. If the three have signed off to you, you and two others now own the whole property and perhaps it can be sold quickly or at least donated to the municipality who can demolish it and turn the property into a public park or whatever .... I am SURE there is a better solution that will both not cost you a lot and perhaps provide a benefit to either you or someone else (like the community) but without looking at all the details, we're all going to be shooting in the dark.
Don't delay consulting with a local attorney - the more time available the better solution that can be worked out!
Owning a home with 5 other people, regardless of whether they are family, is a nightmare. Once you have accepted the distribution from the estate, i.e., you are on title (along with 5 other people), you cannot go back in time to disclaim the asset. You may, however, be able to dedicate the property to the city, but this also seems unlikely since you do not own the property in fee simple. I highly recommend you ontact a real estate attorney in your area.