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Should You Refinance Inherited Property?

By Joe Theriault | Feb 6, 2018 | 0 Comments

Many times, selling inherited real property is in everyone’s best interests, but there are always exceptions. Here are two of the more common ones that we see: Dad lived alone in failing health, so Diane agreed to move into the house with him. As Dad’s health declined even further, Diane left her job to become…

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Answers to Inherited Real Estate FAQs

By Joe Theriault | Jan 22, 2018 | 0 Comments
Answers to Inherited Real Estate FAQs

When a loved one dies, everyone goes through the same five stages of grief. However, not everyone goes through these stages at the same speed, since recovery may take a couple of weeks or it may take a couple of decades. At the same time, a death in the family also creates financial concerns, as heirs…

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3 Steps to Take When You Inherit Property with a Mortgage

By Joe Theriault | Jan 8, 2018 | 2 Comments
3 Steps to Take When You Inherit Property with a Mortgage

Many people are confused about their obligations and options in these cases. First and foremost, the mortgage is still due. Repayment obligation does not terminate with the death of the original owner. Second, to avoid foreclosure or other adverse action, such as collection letters, the mortgage must be current. The lender can still take such…

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The 5 Steps of a Massachusetts Probate

By Joe Theriault | Dec 18, 2017 | 1 Comment

While there are some ways to expedite the process and reduce the amount of inherited property involved, some legal proceedings are almost inevitable when a loved one dies. Properly understood and carried out, probate often brings emotional closure in these situations, but if it gets out of control, probate litigation can become an expensive mess.…

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Dealing With an Inherited Home: Best Practices For Families

By Joe Theriault | Feb 23, 2017 | 0 Comments

All property, for example inherited home, has both economic and non-economic value. In many instances, the former vastly outweighs the latter, because very few people have an emotional bond with a box of corn flakes. But that is not always the case; in fact, the opposite is sometimes true. There are people reading these words…

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Five Ways To Deal With Selling Inherited Property

By Joe Theriault | Feb 4, 2017 | 0 Comments

At the risk of giving our loyal readers too many numbers to deal with too soon, there are basically three steps in selling inherited property, but only two of them are financial. Step one is to recognize the emotional ties that the heirs probably have to the property, and deal with them. Consider having a…

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Letting Go – Inherited Real Property

By Joe Theriault | Jan 3, 2017 | 0 Comments
Higher emotional value

“A man’s Self is the sum total of all that he CAN call his, not only his body and his psychic powers, but his clothes, and his house, his wife and children, his ancestors and friends, his reputation and works, his lands, and yacht and bank-account.” –          William James If that statement was true a…

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Is Leasing Inherited Property Just A Temporary Solution?

By Joe Theriault | Dec 23, 2016 | 0 Comments
Dealing with inherited property

The local real estate rental market is benefiting from the strength in the statewide sales market. According to the New Hampshire Housing Finance Authority, median rents for two-bedroom apartments in the Granite State inched above $1,200 per month. That’s 15 percent higher than they were in 2011. Low vacancy rates of under 2 percent –…

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Massachusetts Lawmakers Consider Additional Housing Standards

By Joe Theriault | Dec 11, 2016 | 0 Comments
Housing Standards

A proposed measure would require real estate sellers in the Bay State to provide energy audits of the inherited real estate that they sell. Consumer and housing groups say the bill is a good idea. “Buyers need to avoid being duped into buying a ‘money pit,’” urged the Massachusetts Affordable Housing Alliance and a few…

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Dealing With Inherited Real Estate That’s In Foreclosure

By Joe Theriault | Dec 10, 2016 | 0 Comments
Real Estate New England

The loss of a loved one is devastating enough, but when that loss is coupled with the prospect of losing the family home, inherited real estate, which is typically the most valuable asset in these situations both financially and emotionally, the burden can almost be too much. Massachusetts is a non-judicial foreclosure state. In many…

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