Real Estate

Inherited House With a Reverse Mortgage: What Should the Family Know?

If you inherited a property involving reverse mortgage, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien information,...

Inherited Property and the Step-Up in Basis: Questions to Ask Your Tax Professional

If you inherited a property involving tax basis questions, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien information,...

Inherited House From Another State: Selling a NY or NJ Property Remotely

If you inherited a property involving out-of-state heirs, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien information,...

Inherited Co-op or Condo in New York: Why It Can Be Different

If you inherited a property involving NY co-op and condo considerations, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien...

What Insurance Should You Have on an Inherited House?

If you inherited a property involving insurance after the owner's death, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien...

Inherited House: Should I Keep It, Rent It, or Sell It?

If you inherited a property involving sell versus keep versus rent, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien...

How Do I Find Out What an Inherited House Is Worth?

If you inherited a property involving market value and valuation, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien...

Port Washington Real Estate: Waterfront Long Island Living With NYC Access

Port Washington, NY deserves attention from buyers who want to remain connected to New York City while changing the way they live. The strongest reason to study this market is not a generic promise that prices will rise. It is the combination of location, housing choices and lifestyle represented by LIRR, harbor, waterfront recreation, village center, single-family homes. Those factors can attract...

Inherited House With Multiple Heirs: Who Gets to Decide?

If you inherited a property involving co-heirs and decision-making, the first step is to slow down and separate the emotional decision from the practical one. An inherited home is an asset that needs to be understood before the family chooses what to do with it. Start by collecting the documents connected with the property: the deed or ownership information, property-tax records, mortgage or lien...

Inherited House With a Mortgage: Who Makes the Payments?

An inherited house may still have a mortgage, HELOC or other debt. The loan does not simply disappear because the original borrower died. Find the latest mortgage statement and determine whether payments, property taxes and insurance are current. Ask the servicer and estate attorney what procedures apply to the estate. If the property will be sold, the loan payoff is normally one of the major...