Photo: Xavierarnau/Getty Images Photo: Xavierarnau/Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Xavierarnau/Getty Images What You Need To Know If You Inherit Real Estate 1 / 1 Back to Gallery If you inherit a house, or any other kind of property, you may feel as if you’ve been thrown into the deep end of real estate ownership. Not only must you deal with the loss of a loved one, but you’ll also have to wade through the legal and financial repercussions of inheriting a home. While this isn’t a rare situation, being a real estate beneficiary has a lot of moving parts. So, if you do find yourself in this position, you’ll need to take some specific steps. We spoke to experts who explained exactly what you’ll need to do if you inherit real estate. Step 1: Meet with a probate attorney When you learn that you have inherited a property, you should first meet with a probate attorney to determine who has assumed the various rights and responsibilities associated with the property. Doing so will help you assess the full picture of what you’ve inherited. “Find out if there’s back taxes, liens, HOA… Read full this story
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