How to sell inherited real estate held in a trust

If real estate is held in a trust and you are the trustee, you can transfer ownership before or after the sale.

property, settling affairsJennifer GoodMay 28, 2020real estate, financial and propertyComment

Sell the home

If the home is worth more than you owe on it, the difference will go to the beneficiaries. You can kick off the process of selling the home by finding a real estate agent

property, settling affairsJennifer GoodNovember 11, 2019real estate, financial and propertyComment

Pay property tax bills (if paid separately and not included in home mortgage), and file for an exemption if needed

If there is a mortgage, the lender may pay the property taxes. If the deceased person was paying property taxes, the estate will need to keep paying property tax bills. If payments stop, the taxing authority may place a lien on the property and eventually foreclose. However, some states give exemptions after a death and no one can force you to pay if you didn't own the home or sign the loan.

property, settling affairsJennifer GoodOctober 1, 2019real estate, physical property, finance, financial and propertyComment

Arrange to pay mortgage regularly, or for the sale of the house

The home is often the largest asset and burden to deal with. Generally, you can keep the home and figure out what to do about the mortgage or sell the home.

property, settling affairsJennifer GoodOctober 1, 2019real estate, physical property, financial and propertyComment