co-owner in Indiana

[harry1]

I am co-owner of a home in Indiana that I do not live in yet. The other owner would like to have my name removed from the deed in order to get the geothermal heat tax reduction allowed if both owners live in the home. My name is however, still on the mortgage. I say this is financial suicide if something happens to him, even if I am listed as a beneficiary to his IRA and stock funds. Do you agree? or is there another form we could use listing me as the secondary owner? What do you think here? Thanks.

 

[seniorjudge]

Tell the co-owner you will be happy to deed your part when two things happen:

(1) You get $x

and

(2) He refinances the mortgage, leaving you off the hook.