Magnetization and high resolution neutron powder diffraction measurements on the magnetic shape memory compound Ni2Mn1.44Sn0.56 have confirmed that it is ferromagnetic below 319 K and undergoes a structural phase transition which takes place at T-M = 221 K on cooling and 239 K on warming. The high temperature phase has the cubic L2(1) structure, alpha = 5.973 angstrom, with the excess manganese atoms occupying the 4(b) tin sites. In the cubic phase at 245 K the manganese moments at both sites were found to be ferromagnetically aligned. The magnetic moment at the 4(a) sites was 1.88(10) mu(B) but it was only 0.53(18) mu(B)/Mn at the 4(b) sites. The low temperature phase stable below T-M has an orthorhombic structure with space group Pmma related to the cubic phase through a Bain transformation a(ortho) = (a(cub) + b(cub))/2; b(ortho) = c(cub); c(ortho) = (a(cub)-b(cub)). The change in cell volume in the transition is only approximate to 0.5%, suggesting that the atomic moments are unchanged although the spontaneous magnetization drops significantly.