Transfers Between Remaindermen

[Sproton]

Jurisdiction

Michigan

If three siblings inherit a home from a life estate deed as joint tenants with rights of survivorship, can one of those siblings transfer their share to another with a quit claim deed or such, leaving ownership at 2/3 for that sibling and 1/3 for the remaining sibling?

 

[Zigner]

If three siblings inherit a home from a life estate deed as joint tenants with rights of survivorship, can one of those siblings transfer their share to another with a quit claim deed or such, leaving ownership at 2/3 for that sibling and 1/3 for the remaining sibling?

Very generally speaking, yes (in some instances). Details matter, though. For such an endeavor, you should speak to a real estate attorney for assistance.

 

[zddoodah]

three siblings inherit a home from a life estate deed as joint tenants with rights of survivorship

Not to be nit picky, but that's not an inheritance. I assume what this means was that someone has/had a life estate and that the three siblings were/are remaindermen.

can one of those siblings transfer their share to another with a quit claim deed or such, leaving ownership at 2/3 for that sibling and 1/3 for the remaining sibling?

It's not clear whether you're talking about this transfer occurring before or after the death of the life tenant, but the answer either way is yes.

 

[Sproton]

Not to be nit picky, but that's not an inheritance. I assume what this means was that someone has/had a life estate and that the three siblings were/are remaindermen.



It's not clear whether you're talking about this transfer occurring before or after the death of the life tenant, but the answer either way is yes.

Yes, life tenant is deceased, three siblings are remaindermen. One sibling would like to give another his share. One reason I'm asking is that I read that joint tenancy requires equal shares. Wanted to know if we can make this 2/3 to 1/3 without opening some other legal can of worms.

 

[zddoodah]

One reason I'm asking is that I read that joint tenancy requires equal shares. Wanted to know if we can make this 2/3 to 1/3 without opening some other legal can of worms.

In the old days, a joint tenancy required what are referred to as "four unities." In a lot of states, that is no longer the case, but I don't know about Michigan in this regard. Even if it is the case in Michigan, the transfer that you're asking about would still be permitted; it would simply convert the joint tenancy to a tenancy in common. If maintaining the joint tenancy is important to the transferor and transferee, then they should consult with a local real estate lawyer.