What to do if you inherit a house that is uninhabitable?
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What to do if you inherit a house that is uninhabitable?
My father passed 2 years ago and my brother is the executor and my step-mother cashed in all the insurance monies and we are left with a dilapidated house that is uninhabitable. We both are in debt from taking care of this place and cannot sell it because of the condition of it as well as the market these days. I live in WA and my brother in WI. He now tells me that the city is required to inspect the premises inside and out. If this happens it is sure to be condemned. Any suggestions on how to get rid of it? Give it away to charity, walk away? It is costing too much.
Asked on July 10, 2011 under Estate Planning, Wisconsin
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for your loss and for your situation. Is the land perhaps worth anything? To a developer possibly? Maybe speak with a local real estate agent about the matter to see what you can come up with. Donating the property to Charity is indeed an option but I think that I would speak with an accountant on the matter as to hos that can be handled. You can not just walk away from the property. Your names are still on the deed and you will still be liable for tickets, taxes, water bills, etc. If there is a mortgage on it maybe you can see about a deed in lieu or foreclosure. You need help in the area. Good luck.
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