Inherited Property Guide

You just inherited a house. Here's what to do in the first 90 days.

The decisions you make in the first few months after inheriting a property have lasting financial consequences. Start here.

First 30 Days

What actually needs to happen first.

Do immediately

  • Secure the property
  • Switch to vacant-property insurance
  • Locate the mortgage info
  • Find the will or trust
  • Notify utilities and the post office

Can wait 30–60 days

  • Decide: sell, keep, or rent
  • Accept any offers
  • Make repairs (or skip them)
  • Distribute personal property

Tax moves to make

  • Get a date-of-death appraisal
  • Confirm probate requirements
  • Consult a tax professional before selling
  • Document the stepped-up basis
Your Three Options

Sell, keep, or rent — the honest breakdown.

Sell

Fastest path to liquidity. No ongoing costs. Tax-efficient if sold soon.

  • Closes in 10–21 days
  • No carrying costs
  • Stepped-up basis minimizes tax
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Keep as a residence

Preserves the family home but requires title transfer and ongoing costs.

  • Title must transfer
  • Mortgage may need refinance
  • Long-term carrying costs
Compare scenarios

Rent it out

Generates income, but comes with landlord responsibilities and tax implications.

  • Tenant management required
  • Depreciation rules apply
  • Different tax treatment on sale
See rental considerations
Tax Strategy

The tax rule that changes everything for inherited property.

The step-up in basis resets the property's tax basis to its fair market value at the date of death. Decades of appreciation are wiped out for capital-gains purposes — and if you sell soon after inheriting, your taxable gain is often near zero.

Example

Mom bought the house in 1985 for $80,000. At her passing in 2026, fair market value is $420,000. You sell six months later for $425,000. Taxable capital gain = $5,000 — not $345,000.

Free Cash Offer

Find out what your inherited house is worth — free, no obligation.

Takes less than 2 minutes. No commitment required.

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This is an illustrative estimate only. Actual offers depend on property condition, local market conditions, and due diligence. No offer is binding until a formal written agreement is signed by both parties.

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