23d • General discussion
Two Terms, Two Very Different Situations
What Is Inherited Property?
- Clear title, valid will, or named beneficiary
- Probate may still be required
- Rights and responsibilities are clearly defined
What Is Heir Property?
- No will or title was ever formally transferred
- Multiple family members may have an ownership interest
- The 'tangled title' problem
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Two Terms, Two Very Different Situations
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