Legal Question in Real Estate Law in Iowa
Can you get a name off the property?
My dad bought 18 acres of land and put it in my sister, his girlfriend, and my names. Since then my dad and his girlfriend have gone their seperate ways, and we want her name off the land. She won't take it off unless he gives her $5000 in return. We were wondering is there any way that she can be taken off without having to pay her. Thanks for your help.
1 Answer from Attorneys
Re: Can you get a name off the property?
Your dad gave 1/3 of that property to his girlfriend. She owns 1/3 of that property. Would it seem reasonable that she could take your 1/3? Or your sister's 1/3? No. If you think the $5,000 is unreasonable, you could suggest that an appraisal be done to determine the value. If she refuses that, you can initiate a partition action, in which the court will order an appraisal be done, and the property either sold with 1/3 of the money to each of you, or the girlfriend get 1/3 of the value from you (and/or your sister) and she would deed her interest to you. Deeds are important documents, and shouldn't be executed without consideration of the consequences.