Author: hoth01

what happens when two siblings own a property and one dies

How to Deal with Property Ownership After a Sibling’s Death in Pittsburgh, PA

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In Pittsburgh’s ever-changing neighborhoods, from Lawrenceville to Squirrel Hill, many long-time residents find themselves in a complex situation: jointly owning family properties with their siblings. These homes, often passed down from parents, have seen decades of Pittsburgh’s evolution – from steel town struggles to tech-driven revitalization. But what happens when tragedy strikes, and one sibling … Continued
who owns a house during probate

Understanding Home Ownership During Probate: Who Really Owns the House?

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When a loved one passes away, the question of “Who owns the house?” during probate can create confusion. While the property may be willed to an heir, legal ownership doesn’t transfer automatically. Probate is the court-supervised process that oversees the distribution of assets, including real estate. During this time, the house remains part of the … Continued
pa foreclosure timeline

Understanding the Pennsylvania Foreclosure Timeline: A Step-by-Step Guide

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According to ATTOM, in May 2024, Pennsylvania had some of the highest foreclosure repossessions (real estate-owned or REOs), with 238 REOs. The site further stated that Pittsburgh, PA, had 80 REOs, making it one of the large metropolitan areas (with a population of over one million) that saw the most REOs.   If you’re also a Pittsburgh, PA, homeowner whose home … Continued
probate without a will

Probate Without a Will: Quick Steps, Tips, and Solutions

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Did you know that nearly half of Americans die without a will? This can lead to complex legal challenges for their families. When a loved one passes away without a will, their estate enters probate, a process that can be confusing and overwhelming. Today, we’re taking a closer look into probate without a will, offering … Continued
capital gains on inherited property

Understanding Capital Gains on Inherited Property in PA

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More than half of U.S. households are now making inheritance plans. If you’re among them and stand to inherit property in Pennsylvania, congratulations! However, receiving inherited property comes with understanding the tax implications. One key area to navigate is capital gains on inherited property. You need to be aware of the potential tax burden you may face … Continued
probate sale

Understanding Probate Sale: A Complete Guide for Sellers

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Selling a loved one’s home after they’ve passed can feel like navigating a labyrinth. The probate sale can be a minefield of confusion, stress, and delays, but it doesn’t have to be. If you’re dealing with a probate sale, you’re likely handling inherited property, and the process can be daunting. You might find yourself staring … Continued
how to report inheritance to the irs

How to Report Inheritance to the IRS: A Step-by-Step Guide

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Receiving an inheritance can feel like winning the lottery; suddenly, you have assets that weren’t in your bank account yesterday. But with great power comes great responsibility, and part of that responsibility is figuring out how to report inheritance to the IRS in 2024. This guide walks you through the process, ensuring you stay on … Continued
can an executor rent out a property before probate is granted

Can an Executor Rent Out a Property Before Probate Is Granted?

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Imagine receiving a call that you’ve just inherited a house. However, the legal processes aren’t complete. This scenario places many executors in a tight spot, raising the question: can an executor rent out a property before probate is granted? While dealing with the emotional weight of a loved one’s passing, executors must also navigate the … Continued
capital gains tax on inherited property

A Guide to Understanding the Capital Gains Tax on Inherited Property

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You inherited property recently, and are trying to figure out the tax ramifications. How long do you need to hold it before selling? What are capital gains tax on inherited property? Today we’re diving into the answers for these questions, and offering clear, actionable insights into demystifying this aspect of your inheritance! Basics of Inherited … Continued
how to buy out a sibling on shared property

How to Buy Out a Sibling on Shared Property

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Inheriting or sharing property with siblings can turn from a blessing into a tricky and emotional situation. This is especially true when there are issues of ownership. So what do you do if you want to know how to buy out a sibling on shared property? Today we’re answering that question, and diving into the … Continued
inheriting a house

Inheriting a House: Should You Keep, Sell, or Rent Out the Property

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Inheriting a house can feel like a bolt from the blue. One moment, you’re navigating your everyday routine, and the next, you’re thrust into the role of property manager. And this is complete with decisions about maintenance, taxes, and the future of this unexpected asset. This twist of fate propels you into unfamiliar territory, laden … Continued
probate administration

Understanding the Basics of Probate Administration

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When a loved one dies, there are often complex legal challenges you’ll need to deal with. But what happens with major assets like real estate? The answer is probate. Understanding probate administration is the first step toward turning a complex situation into a manageable one. Read on as we dive into the details of probate … Continued
what is a probate sale

What Is a Probate Sale in Real Estate?

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You’re looking to buy a new home, and you’ve heard about the potential benefits of buying from a probate sale. But unless you’ve been through that process before, it’s likely a foreign concept. So… what is a probate sale? Today we’re diving into the probate sale process. We’ll offer you a clear path through the … Continued
can you live in a house during probate

Can You Live In a House During Probate?

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When someone passes away, they leave behind more than memories-they leave a legacy, often in the form of property. One of the most significant and personal pieces of this legacy is their home. But what happens to this home when it enters the realm of probate? Probate-a word that often conjures up images of legal … Continued
best neighborhoods in pittsburgh for families

The Best Neighborhoods in Pittsburgh for Families 2024

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You’re looking to find the perfect Pittsburgh neighborhood for your family. But with so many to choose from, it can be tricky to figure out which would work best. We’ve got you covered. Today we’re navigating the best neighborhoods in Pittsburgh for families, helping you find that perfect place where memories will be made and … Continued
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