Three People Own It

Expert, localized Los Angeles answers provided by Heather Roy

Three People Own It
	Dear Ms. Lank, I own a lake property with two other siblings. Two of us do not want the property passed on to our children at our death. The third sibling has the actual deed. Can the deed be set up with restrictions on it? Because deeds are recorded, does an actual deed need to be presented to make any changes to it?

	A deed is intended to pass on ownership, just one time. After it's been entered in the public records, it has no further purpose. One young lawyer told me "You could tear it up and throw it in the waste basket." The next change of ownership or type of ownership after that would require a new deed, signed by the present owners.
	Edith Originally published on May 15, 2005

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