Inheriting a home often comes at a difficult time, along with decisions that cannot always wait. Whether you are an only heir or one of several siblings, David helps you understand your options and move forward at a pace that feels right.
Your Options
Keep and Live In ItMake the home your own residence. In California this choice can matter for property taxes, so timing is important.
Keep and Rent ItHold the property as an investment. We can help you look at rents, expenses and what the home would likely need first.
Sell ItTurn the property into proceeds that can be shared among heirs, often the simplest path when several people inherit together.
Buy Out Other HeirsOne heir keeps the home and pays the others their share, frequently with new financing.
Things to Understand Early
- How the home was held. A home in a living trust is usually handled by the successor trustee without probate; a home held in the deceased person's name alone may need to go through probate first.
- Property taxes under Proposition 19. Since 2021, an inherited California home is generally reassessed to market value unless it was the parent's primary residence and the child makes it their own primary residence within one year, subject to a value limit.
- Cost basis. Inherited property generally receives a "stepped-up" tax basis equal to its value at the date of death, which can reduce capital gains tax on a sale. Your CPA can confirm how this applies to you.
- Carrying costs. Mortgage payments, insurance, taxes and upkeep continue while decisions are made, and a vacant home needs to be secured and insured properly.
How We Help
- A clear picture of valueA detailed market analysis so every heir is working from the same, realistic number.
- Options, comparedSelling, renting and buyouts laid side by side, coordinated with your attorney and CPA.
- Preparation, handledHelp with clean-out, estate sale services, repairs and vendors, especially valuable for heirs who live out of the area.
- A careful saleMarketing, negotiation and escrow managed from start to finish, with regular updates for everyone involved.
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This page is general information and is not legal or tax advice. Property tax and income tax rules depend on your circumstances; please consult a licensed attorney and tax professional.