Qualifying property

The new law excludes transfers of “heirs’ property” made to a “qualified family member” for the purpose of clearing the title. To qualify: (1) the property must be “heirs’ property,” which means real property owned by one or more individuals as tenants in common, which was inherited from a relative and for which no formal probate or recorded conveyance transferred clear title to the current owners; (2) the transfer must be to a “qualified family member,” which means a person related to the prior owner by blood, marriage, or adoption including, but not limited to a spouse, child, grandchild, sibling, niece, nephew, aunt, uncle, cousin, or those identified as heir owners by a court of competent jurisdiction; and (3) both the person transferring the interest (grantor) and the person receiving it (grantee) must have had an ownership interest in the property before the transfer.

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