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: According to the United States Department of Agriculture (USDA), heirs’ property is defined as “family land that is jointly owned by descendants of a deceased person whose estate did not clear probate.” In other words, when the current owner of a property dies without a legally valid will, the property’s ownership is distributed equally to that person’s heirs. These individuals then become “tenants in common” who have identical rights and interests in the property. This executive summary focuses on what is heirs’ property, a few myths and the facts, as well as steps to begin resolving heirs' property challenges.
Publisher | American Farmland Trust |
Publication Date | September, 2024 |
Publication Views | 21 |
Material Type | Website |