| Description: | In case a person dies, it’s the responsibility of his/her loved ones such as relatives or close friends to manage his/her estate. However, in order to make any kind of decision, obviously, legal permission will be required. Legal permission can be in the form of the deceased mentioning it in his/her will or is granted by the Probate Registry. It’s a challenging inconvenience that will strongly have an impact on your finances, mainly because of the federal tax implications. Additional expenses also add up including real estate agent commission, repairs, daily or monthly payables which are utility bills and lawyer fees. On inheritance, you basically would be left with three choices to make with the house: move into it, rent it out or sell it at a good price. If you’re planning on selling an inherited house, this guide will give you all the little details so that you don’t make mistakes with time and money. Do you know if you’re allowed to sell the property? What are the things you will have to know if you do eventually sell it? Will there be any legalities or formalities which you will have to do? If these are some of the questions which are in your mind, then read on to know more! |