Selling an Inherited Property
An inherited property can raise questions about estate administration, tax, repairs and the interests of beneficiaries. Establish who has authority to sell before comparing your options.
Published by Lucennio Property Limited. General information, not individual professional advice.
Discuss my propertyTax implications of inherited property
Inherited properties may be subject to inheritance tax if the estate exceeds the nil-rate band. Capital gains tax may also apply on any increase in value between the date of death and the date of sale. It is important to get professional tax advice to understand your position.
Dealing with properties in poor condition
If an inherited property needs work, compare a sale in its current condition with repairs followed by marketing. An investor may consider it, but suitability and the net outcome depend on the offer and the estate’s circumstances.
Dividing the estate
When several beneficiaries are involved, ask the estate’s solicitor about the representatives’ powers, duties and any disagreement. A quick sale is not automatically the best outcome for the estate.
Frequently asked questions
We are a property sourcing and introductions service. We connect sellers with property investors. Offers may be below open market value. Timescales depend on the legal process and property specifics.