New Hampshire and Massachusetts are both equitable division states. So, upon divorce, the court pools all marital property together and divides it equitably. Note that an “equitable” division is not necessarily the same thing as an “equal” division. The judge uses a number of factors to divide property fairly, including the economic and noneconomic...READ MORE
Should I Rent or Sell the Property I Inherited?
Many times, when a loved one dies and leaves real property behind, the family has made property disposition arrangements in advance, especially if another family member is still living in the house. Usually, a brief addendum to a will is more than enough to get everyone on the same page when it comes to...READ MORE
Should You Refinance Inherited Property?
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...READ MORE
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...READ MORE
The 5 Steps of a Massachusetts Probate
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...READ MORE
Five Ways To Deal With Selling Inherited Property
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...READ MORE
Letting Go – Inherited Real Property
“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...READ MORE
Is Leasing Inherited Property Just A Temporary Solution?
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...READ MORE
Home Sales Dip in Massachusetts
Massachusetts Home Sales are Down For the first time in 14 months, fewer inherited homes are being sold in the Bay State. According to the Massachusetts Association of Realtors, there were 5,799 residential closings in July, which is 14 percent below the July 2015 mark. At the same time, average prices for single-family homes...READ MORE
Is a Cash Sale Right For Your Inherited Property?
When most people buy cars, they start by doing research on the vehicles available and weighing their options as far as price and financing are concerned; they do not rush to their local Ford or Toyota dealer without first thinking through the process, because the salespeople at these dealerships are only interested in selling...READ MORE