Inheriting a house usually happens at one of the hardest times in life. Before you make any big decisions about the home, start with these five steps. I walk through each one in this short video.
I’m a real estate broker, not an attorney or tax advisor. This is general information, not legal or tax advice. Please talk with a Colorado estate attorney and a CPA about your situation.
The 5 first steps after inheriting a home in Colorado
1. Protect the property
Change the locks, keep the heat and utilities on, and tell the insurance company. A vacant home may need a different insurance policy.
2. Check how the title was held
A recorded beneficiary deed, joint tenancy or a living trust can often let the family skip probate. If the home was in one person’s name alone, probate is usually needed. Read do you need probate to sell a house in Colorado?
3. Confirm who has authority to sell
If probate is needed, the court appoints a Personal Representative. Once appointed, the Personal Representative can usually sell, and in many Colorado estates the sale does not need a judge’s approval. See our step-by-step guide to selling a home in probate.
4. Get a date-of-death value
A date-of-death valuation records what the home was worth when your loved one passed. It often matters for taxes and for dividing the estate fairly. Learn more about date-of-death home valuations.
5. Compare your options
Keep it, rent it, sell it as-is, or prepare it and list it. Compare the net numbers and timelines before you decide. Read inherited a house in Colorado? Your 4 options.
Frequently asked questions
Do I have to go through probate to sell an inherited house in Colorado?
Not always. It depends on how the home was titled. A beneficiary deed, joint tenancy or living trust can often avoid probate. A home in one person’s name alone usually requires it.
Who can sign to sell an inherited house?
Usually the court-appointed Personal Representative, the successor trustee of a trust, or the named beneficiary, depending on how the home passed.
Get the free checklist
Download our free Colorado probate home sale checklist, call (720) 403-2940, text Adrienne at (303) 597-8720, or reach out here. We also prepare free date-of-death valuations.