{"id":1419,"date":"2018-10-11T08:00:00","date_gmt":"2018-10-11T08:00:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/"},"modified":"2025-03-13T02:22:27","modified_gmt":"2025-03-13T02:22:27","slug":"real-estate-pros-inheriting-house","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/","title":{"rendered":"5 Issues An Executor May Face When Inheriting a House"},"content":{"rendered":"<h2 style=\"text-align: left;\" align=\"center\">Help sellers decide the best path for their inherited home<\/h2>\n<p>The recent death of legendary singer-songwriter Aretha Franklin initially posed a quandary for her four surviving sons. Because she didn\u2019t leave a will, her $80 million fortune \u2013 including Franklin\u2019s numerous real estate holdings \u2013 likely will take longer to divide, and the process could become complicated.<\/p>\n<p><!--more--><\/p>\n<p>Although Franklin\u2019s sons appointed her niece to execute the estate, the situation brings to mind how family feuds and other problems can potentially result when inheritance portions aren\u2019t clearly defined, or when an executor may be in over their head. Many newfound executors can face uncertainty and feel stress when inheriting a property after the death of a loved one.<\/p>\n<blockquote>\n<p>\u201cInheriting a property can come as a shock and may feel like an insurmountable obstacle,\u201d says Alex Lehr (<a href=\"http:\/\/email.prnewswire.com\/wf\/click?upn=VovAccnUbqkIznZsbfF5KfsgHKn10K2FQhmmPMzFGGNPdqIl1Xy5yZWi4FmIrZU5-2Fe92ReXuqFNi2nTbYRhnPta70ULMC6nb2iQmwgpzwe3rzsgAPdS5IPL-2BmqSMn1R0LXPlmbLv0GeImQs9nAAFOyIzOi51FNI9fYQIWTRWmI37b715vLjDGGTt1cuJYBCAEK2u-2FBqyUeoTpAG3AWEz6-2FrmBxrkp4-2BxgiZ4Po91FDg-3D_DvBNzs8htBGarLZvGxwYX-2BUr0bpstldfHNp-2By3ulqEIcxcaiDAVzssi6BkeNhAzUWrBzbsBzpgFLLGyvczxpCbC9tUo-2Byq7i404hoJ0tGc7g5rLDdw-2Bq8Hf4uKchwqVFq8z8tRnyOjY7Kch676DciZTvMka-2BUd8SHLHfVR-2FApBwE7X2As4NEp8Eeo8uSLD-2FTqP6aRQHloRg3dBFSVLvBJ2QhKa1wRRev-2B8CaZRw9TtmvAj57fHoSQqEhbsUeZg3FZ3qgKI4TuJyTdRGGKP2iR90gJoKjW7WNLDYMpkoWypLkCmiUQGQAAioGYSB8TGKZ\" target=\"_blank\" rel=\"nofollow noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/email.prnewswire.com\/wf\/click?upn%3DVovAccnUbqkIznZsbfF5KfsgHKn10K2FQhmmPMzFGGNPdqIl1Xy5yZWi4FmIrZU5-2Fe92ReXuqFNi2nTbYRhnPmwiD-2B3OqdKmDN6mHbYGORJ6jufyO6leQxeFYSY-2BBrems2voYPoeT4jKFnsI6fq0sVVaS8HVhgtVrLq5At4Pug0WfDL6dvhxJ6qzk0-2FddIWKjJ3nFL4o5YSwZPIV4bJhSIb9Q58jmChA3oWc4cTExOw-3D_Vxx1lURz5JFdE-2BmgmH88Wb8Apy8c1BKwzSNRPShUFsc-2FS5xdaywFFibBbY6TPs7zfIcYY0yPPS2KF8Kv52X2kMtlJFoErX4BwaqRodyBfJuGcV6C-2FlYbYfHs2XabKDvX1bbC-2BLRWqWCdJbAnN61dluJgIwVbrtX0827zzZv-2Bs-2FcgQamOyS0CaIx5c5RRd7SFjyDQ7rGeTRaBIgQNDrXqDy-2BcpAWDzqD6mgv8BPb7NWGO25QjMFuL76XerUFGylvzO1sIjr-2FzVgmroj22thlLhL0n5CaG1nwI2CGKuhRSVuoAj6Av5cdF9LdQUSgNqp0j&amp;source=gmail&amp;ust=1539089958332000&amp;usg=AFQjCNHrd-e2mulTOOCYybYfjSEiRVP5JA\">www.lehrrealestate.com<\/a>), a real estate broker and author of&nbsp;<em>The Unexpected Sale: Guidance For The Executor\/Administrator Of An Estate.<\/em>&nbsp;\u201cEspecially in the wake of a family tragedy or death, being the executor of an estate can be challenging. And usually the biggest asset in an estate \u2013 and the most difficult to resolve \u2013 is a house.\u201d<\/p>\n<\/blockquote>\n<p><strong>Lehr provides a list of important decisions the executor might face when a house is part of an inheritance:<\/strong><\/p>\n<ul>\n<li><strong>To keep, rent or sell.&nbsp;<\/strong>Competing interests among siblings can make the right decision difficult. \u201cCaught in the middle, the executor has to ask the heirs to keep their emotions under control and put the rational facts on the table,\u201d Lehr says. \u201cSelling is often the best decision if medical bills, tax issues or other reasons require cashing out. And it produces a specific amount that can be divided equally.\u201d<\/li>\n<li><strong>Can you manage a property investment?&nbsp;<\/strong>When considering keeping the property in the family, the executor needs to be objective about the beneficiaries\u2019 dependability. \u201cWould you choose the other beneficiaries to be your partners in any long-term investment?\u201d asks Lehr. \u201cCould they get divorced, go bankrupt or bring other entanglements?\u201d And if you decide to rent the property, Lehr says there are issues to consider such as the local market for rentals and your ability to <a href=\"https:\/\/www.zillow.com\/rental-manager\/resources\/landlord-rental-maintenance-laws\/\" target=\"_blank\" rel=\"noopener\">maintain the property<\/a>.<\/li>\n<li><strong>Establishing the value of the property.<\/strong>&nbsp;If one heir or beneficiary wants to buy the house, the estate must determine the market value and get a fair price for the heirs and beneficiaries. A real estate professional can help you price the property. Also, \u201c&#8230; get two appraisals, and look at estimates from a real estate website such as <a href=\"zillows-moves-do-make-sense\/\">Zillow<\/a>,\u201d Lehr says. \u201cAlternatively, the executor can put the property on the market with the expressed provision that one of the heirs has the right of first refusal to match the highest offer.\u201d<\/li>\n<li><strong>Repair and renovate?&nbsp;<\/strong>The executor must make sure the house is maintained in good condition, necessary repairs are carried out, and that it\u2019s kept insured. \u201cAn executor can be personally liable for failure to maintain a property that results in losses for the heirs,\u201d Lehr says. \u201cBut how much work is worthwhile before putting a home on the market? That\u2019s a big question that depends on the property and circumstances.\u201d<\/li>\n<li><strong>Furnished or unfurnished?<\/strong>&nbsp;It\u2019s not unusual for an inherited home to be filled with a 30-year accumulation of stuff. \u201cIn most cases, when the property goes on the market, thinning out the furnishings will help it show better,\u201d Lehr says. \u201cNine out of 10 buyers first see the home in online photographs.\u201d<\/li>\n<\/ul>\n<blockquote>\n<p>\u201cBeing an executor is a high-responsibility, time-consuming, and an often thankless job that people often take on while grieving,\u201d Lehr says. \u201cIt\u2019s up to the executor to assess not only the physical assets of an estate but also the people and emotions involved.<\/p>\n<\/blockquote>\n<p><strong>About Alex Lehr<\/strong><\/p>\n<p>Alex Lehr (<a href=\"http:\/\/email.prnewswire.com\/wf\/click?upn=VovAccnUbqkIznZsbfF5KfsgHKn10K2FQhmmPMzFGGNPdqIl1Xy5yZWi4FmIrZU5-2Fe92ReXuqFNi2nTbYRhnPta70ULMC6nb2iQmwgpzwe3rzsgAPdS5IPL-2BmqSMn1R0LXPlmbLv0GeImQs9nAAFOyIzOi51FNI9fYQIWTRWmI37b715vLjDGGTt1cuJYBCAEK2u-2FBqyUeoTpAG3AWEz6-2FrmBxrkp4-2BxgiZ4Po91FDg-3D_DvBNzs8htBGarLZvGxwYX-2BUr0bpstldfHNp-2By3ulqEIcxcaiDAVzssi6BkeNhAzUWrBzbsBzpgFLLGyvczxpCbC9tUo-2Byq7i404hoJ0tGc7g5rLDdw-2Bq8Hf4uKchwqVFq8z8tRnyOjY7Kch676DciZTvMka-2BUd8SHLHfVR-2FApBxDRtFZeWhhj1jvhn-2Bmb-2FPgOkK6N0jcqsBKzQA4YOsAQ5S0nT13kQAwO4nbtvDJEa9XmvJmdNorkgByKuV-2BXoN68AGmgLSRu-2FfpBhN3ns85ba1VlV4KWELLqwn01JiSG-2Bw8CYW6MoNBTNMSvLHiWb6Q\" target=\"_blank\" rel=\"nofollow noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/email.prnewswire.com\/wf\/click?upn%3DVovAccnUbqkIznZsbfF5KfsgHKn10K2FQhmmPMzFGGNPdqIl1Xy5yZWi4FmIrZU5-2Fe92ReXuqFNi2nTbYRhnPmwiD-2B3OqdKmDN6mHbYGORJ6jufyO6leQxeFYSY-2BBrems2voYPoeT4jKFnsI6fq0sVVaS8HVhgtVrLq5At4Pug0WfDL6dvhxJ6qzk0-2FddIWKjJ3nFL4o5YSwZPIV4bJhSIb9Q58jmChA3oWc4cTExOw-3D_Vxx1lURz5JFdE-2BmgmH88Wb8Apy8c1BKwzSNRPShUFsc-2FS5xdaywFFibBbY6TPs7zfIcYY0yPPS2KF8Kv52X2kMtlJFoErX4BwaqRodyBfJuGcV6C-2FlYbYfHs2XabKDvX1bbC-2BLRWqWCdJbAnN61dluJgIwVbrtX0827zzZv-2Bs-2FcXMdvadih3ZgG0NpcP8-2BAkM9Nok0ePyWRekRDjvgdpleYGPKIxOANKKYNfe1ATtJYq0mklQl93JohFkw9f-2FG14YeQ2vwOylfiotYDDg3HuA8563hBL-2B1QzhrQ-2BNv1MV0luBJl2s8xIpyP8ECsCMfC5&amp;source=gmail&amp;ust=1539089958333000&amp;usg=AFQjCNE1FXtsnIcbw_Bo9AsGgujI4YOTkQ\">www.lehrrealestate.com<\/a>) is the proprietor of Lehr Real Estate, located in San Carlos, Calif., and the author of&nbsp;<em><a href=\"https:\/\/www.amazon.com\/Unexpected-Sale-Guidance-Executor-Administrator\/dp\/1599328364\" target=\"_blank\" rel=\"noopener\">The Unexpected Sale: Guidance For The Executor\/Administrator Of An Estate<\/a>.<\/em>&nbsp;Involved in the real estate business for three decades, Lehr operates a concierge-type real estate firm with an increased focus on selling estate and trust properties &#8211; over 700 to date out of the 2,200-plus properties he has sold. He and his grassroots marketing team speak directly with over 30,000 property owners per year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Help sellers decide the best path for their inherited home The recent death of legendary singer-songwriter Aretha Franklin initially posed a quandary for her four surviving sons. Because she didn\u2019t leave a will, her $80 million fortune \u2013 including Franklin\u2019s numerous real estate holdings \u2013 likely will take longer to divide, and the process could [&hellip;]<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-1419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>5 Issues An Executor May Face When Inheriting a House<\/title>\n<meta name=\"description\" content=\"Use this information to help home sellers how are trying to decide the best path for their inherited home. It\u2019s not unusual for an inherited home to be filled with a 30-year accumulation of stuff.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Issues An Executor May Face When Inheriting a House\" \/>\n<meta property=\"og:description\" content=\"Use this information to help home sellers how are trying to decide the best path for their inherited home. It\u2019s not unusual for an inherited home to be filled with a 30-year accumulation of stuff.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - Blog\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2025\/03\/9ced5ef4-69ab-4ba7-a7cd-ec49be7b274d.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tracey Velt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@traceyveltFL\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tracey Velt\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\"},\"author\":{\"name\":\"Tracey Velt\",\"@id\":\"https:\/\/www.realtrends.com\/blog\/#\/schema\/person\/db05dddc94c61082eaa18f2f5e66c788\"},\"headline\":\"5 Issues An Executor May Face When Inheriting a House\",\"datePublished\":\"2018-10-11T08:00:00+00:00\",\"dateModified\":\"2025-03-13T02:22:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\"},\"wordCount\":725,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2025\/03\/9ced5ef4-69ab-4ba7-a7cd-ec49be7b274d.png\",\"articleSection\":[\"Archive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/#respond\"]}],\"isAccessibleForFree\":\"False\",\"hasPart\":{\"@type\":\"WebPageElement\",\"isAccessibleForFree\":\"False\",\"cssSelector\":\".wp-block-housingwire-piano-member\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\",\"url\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/\",\"name\":\"5 Issues An Executor May Face When Inheriting a House\",\"isPartOf\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.realtrends.com\/blog\/2018\/10\/11\/real-estate-pros-inheriting-house\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2025\/03\/9ced5ef4-69ab-4ba7-a7cd-ec49be7b274d.png\",\"datePublished\":\"2018-10-11T08:00:00+00:00\",\"dateModified\":\"2025-03-13T02:22:27+00:00\",\"description\":\"Use this information to help home sellers how are trying to decide the best path for their inherited home. 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