Can a co-owner gift their share to an outside party?

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Can a co-owner gift their share to an outside party?

My father was a co-owner with his brother and sister to a house that our family has owned for over 200 years . My father recently passed away. In his Will it states his wife, not my mother, inherits everything. Is my dad just taken off the deed and his brother and sister the only owners now or will my fathers wife be added to the deed with his brother and sister?

Asked on October 2, 2011 under Estate Planning, New York

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If your father passed away where he gifted a fractionalized interest in a piece of property that he owned with his brother and sister to his wife, the wife will end up on title to the property with the fractionalized interest of your father as follows:

1. if your father had a trust, the trustee will sign an affidavit of trustee stating that the wife now has your father's interest in the property where a certified copy of the death certificate is attached to the document and it is recorded on the property;

2. if a will or no will, the probate court will issue an order stating that the wife will receive your father's interest in the property which will be recorded on the parcel.

The transfer of interest will be a separate document not mentioning the other owners.


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