Understanding Investment, Unlocking Ownership
Heirs’ property is a form of communal landownership that can be created when a property is inherited without a formal transfer of title. If a property owner dies without a will or estate plan or leaves their property to multiple owners, or if their will is not properly probated, their descendants will inherit the property together, and the title will be considered tangled or unclear. Heirs’ property owners have undivided, shared interests in their property, and every heir has the right to use the property or prevent other heirs from making significant changes to the property. Historically, heirs’ properties have been created because of a lack of access to the legal system, misunderstandings about the risks of heirs’ property ownership, and families’ desires to hold land communally. Recognizing the unique and complex nature of heirs’ property, in partnership with the Robert Wood Johnson Foundation, HAC conducted a qualitative analysis of the legal process of clearing property title and identified opportunities for financial intervention and collaboration. HAC.RWJF_.-Clarifying-the-Legal-Process-for-Title-Resolution
