Sometimes a person will make a deed and transfer ownership of property to a family member. This is usually in a misguided attempt to do some ‘estate planning’; instead of talking to a lawyer about their options, the person simply decides to put a child’s, grandchild’s, or other relative on the deed. Sometimes they even deed the property over entirely.
They do it in the expectation that the child or nephew will allow the parent to live there until they die.
This is usually a very bad idea; under some circumstances this sort of transfer can have gift tax consequences, lead to loss of homestead tax exemption, lead to loss of the home if the child gets in financial trouble. And sometimes, it’s even worse; the child will decide to sell the house or try to force the parent to move out.
What can be done? Basically, a suit to ‘vacate a deed’, sometimes called a suit to ‘set aside a deed’. Essentially what happens is, you take this in front of judge. Judges have what are called ‘equitable’ powers; under some circumstances they can decide that a transaction or a deal is simply so unfair that they can undo the deal. The specific legal theories include “failure of consideration”, and fraud; depending on the exact facts either one or both theories could be included in the law suit. And the details can get very complicated, what has to be pled, what has to be proven, but generally judges will not sit by and let a child simply rip-off a parent. This is a very technical type suit, and you definitely need a lawyer for this sort of thing. Nonetheless, the option is available.
-
Recent Posts
- Terminating rental agreements and Evictions for violations of rules and leases
- Sumter County, Florida, Commissioners Defamation Lawsuit
- Mobile homes, manufactured homes, modular homes, and mobile home parks in Florida
- Florida Do Not Resuscitate Orders or DNRs’
- Advice to the New Law Student, or One L.
Recent Comments
- Admin on When you should not talk to the police
- Elisa S. Worthington on Advice to the New Law Student, or One L.
- admin on Florida does not register guns
- admin on Florida does not register guns
- Barbara Dixon on Florida does not register guns
Archives
- October 2020
- June 2018
- May 2018
- February 2018
- May 2016
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- December 2011
- November 2011
Categories
- Asset Protection
- Business Law
- Co-Owners
- Contracts
- Criminal
- Death and Taxes
- Divorce
- Elective Share
- Estate Planning
- Fees and Costs
- Funerals
- Guardianships
- Health Care Surrogacies
- Homestead
- Insurance
- Landlord Tenant
- Partition
- Personal Injury
- Powers of Attorney
- Prenuptial Agreements
- Probate
- Real Estate
- Scams
- Uncategorized
- Will Contest
- Wills
Meta