Guide · 4 min read
Can I sell my share of inherited property?
If you inherited a fractional interest in a property, you may wonder whether you can sell just your part. Sometimes you can. Here is how it generally works.
Key takeaways
An heir often owns an undivided interest, not a specific part of the property.
Selling only a share can be harder, because a buyer receives a partial interest.
Other options include a buyout, an assignment, or selling the whole property together.
What “your share” means
When several people inherit a property together, each may own a percentage of the whole rather than a particular room or acre. That is called an undivided interest. The size of your share depends on the will, state law, and how the property was titled.
Why buyers are cautious
Buying a partial interest means sharing ownership with the other heirs. That can limit how the property is used or sold, so fewer buyers are interested, and title companies look closely at the records.
Before you decide
Confirm exactly what share you own
Understand any mortgage, lien, or unpaid taxes
Talk with the other heirs, if you can
Ask about the legal and tax consequences of each option
Get every agreement in writing
Ways heirs resolve a share
Heirs sometimes sell their interest to a co-owner, join the other heirs in selling the whole property, assign their interest, or agree on a buyout. Each path has legal and tax consequences, so it helps to speak with a licensed attorney or tax professional first.
Common questions
Do I need the other heirs' permission to sell my share?
Often an heir can transfer their own interest without it, but the details depend on the situation and the state.
Will I get the full value of my share?
Not necessarily. A partial interest can be worth less than a simple proportion of the whole because of the limits that come with it. We cannot guarantee any price.
Do you give legal advice?
No. Homestead Assets is not a law firm and does not provide legal advice. We work with licensed attorneys and title professionals when legal services are needed.
This guide is for general information only and is not legal advice. Every situation is different. Homestead Assets is not a law firm. We work with licensed attorneys and title professionals when legal services are needed.
Let us talk through your situation.
Every situation is different. Tell us about your property and we will follow up to discuss your options.
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