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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Estate Law
Satisfied Customers: 118175
Experience:  Experienced in Trust and Succession Law, including Louisiana Laws
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Last year, my siblings and I inherited from my mother a 10%

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Last year, my siblings and I inherited from my mother a 10% share of a land holding(raw desert property-unimproved) held in an annuity. How do my siblings and I divest from this property annuity since none of us have interest in it and we are concerned with future liabilities i.e.: property taxes?
Thank you for your question. I look forward to working with you to provide you with the information you are seeking.

You would each have to submit a voluntary renunciation of inheritance to the estate and to the annuity administrator. You would be renouncing your right to that part of the inheritance and it is done through the probate court and the court would then issue the order and it would go to more remote heirs and then to the state if there are no more remote heirs.

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