Many Florida residents own real property. Some, in fact, are joint owners with family members or groups of friends, such as those that share ownerships in condominiums or other vacation properties. A problem that arose in another state between a man and his son demonstrates the importance of seeking legal clarification when modifying property titles to include co-owners. Those who hope to avoid similar real estate disputes may want to review this case.
The man added his son as a co-owner to his property with right of survivorship. He wanted to protect his estate against probate fees. He and his son later had a falling out and, in fact, stopped speaking to each other. The man decided he no longer wanted his son to be listed as a co-owner on the title of his property.
He sent a message to his son, asking him to transfer back the title, but the son said he would not comply with the request. His father tried to resolve the issue in court. However, the judge ruled in the son’s favor, holding that joint ownership is not revocable and the father would have been better off placing the property in a revocable trust if there was even the slightest possibility that he would one day change his mind.
Florida residents who co-own properties may find themselves facing similar real estate disputes although not necessarily involving estate plans. Regardless of the details of a particular matter, it can be helpful to seek experienced guidance instead of trying to resolve complicated issues on one’s own. An experienced real estate law attorney would be a good asset to have on hand when facing any type of real estate disagreement, especially those involving co-ownership issues.
Source: movesmartly.com, “Court Rejects Elderly Father’s Bid to Remove Son From Property Title“, Bob Aaron, Accessed on April 10, 2018