An excellent article on issues to consider when inheriting a house.
- Keep, rent or sell: Competing interest among siblings may settle this one quickly: sell
- Property investment: If there are siblings, is this going to work in the longterm?
- Renovate/repair: If selling or renting, how much improvement is necessary?
- Furnishings; An older home is likely to come with older furniture. How is this to be dealt with?
These are all questions that the executor must consider when a home is inherited.