Is there a way to get out from under an inherited house that has no or little value?

UPDATED: Oct 1, 2022

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Is there a way to get out from under an inherited house that has no or little value?

A friend has inherited a home from a family member. The home has little
value in it’s current state and my friend does not have the capital to
bring it up to market value. My friend would like to get out from
underneath the financial burden of this property. There is also a lot
attached to the property that would require significant investment to
make it marketable. Thank you for any advice that may be useful in this

Asked on September 25, 2018 under Estate Planning, Indiana


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

If he had not taken transfer of the property, he could have "disclaimed" or refused his inheritance and would never have become the owner. But you seem to indicate that it was transferred into his name; if so, there is no way to get from under the house other than to sell or gift it to someone (and a gift must be accepted; you can't force someone to take it). Someone has to voluntarily take the home off his hands; he is the owner and therefore liable for it until someone does. Even if it has little value, he may wish to sell it "as is" for whatever it will bring in, as being the easiest, quickest away to "get out from under" the home.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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