If you’ve just inherited land, you may have some tough decisions to make in a short amount of time. After inheriting land from the death of a family member or friend, you may be going through all sorts of emotions and questions. For many, it’s hard to know where to begin.

Who are the beneficiaries of real estate after death?

The terms of the will should dictate beneficiaries if the owner left one. Otherwise, the intestacy laws of the state where the owner lived at the time of death, as well as the intestacy laws of any other state where the owner owned real estate, will determine who inherits the owner’s assets. 13 

Can a surviving spouse claim half of inherited property?

Every other state in the United States follows common law, according to which the surviving spouse is given the right to choose whether they want to claim a third or half of the inherited property.

Can a person be allowed to inherit from an estate?

However, he/she may be allowed to inherit if it can be proven in court that he/she did not influence the testator or the stipulations of the Will in any way at the time. In terms of the Estate Act, any person who is found guilty of damaging, forging, destroying or hiding a Will is guilty of a crime, and is thus not allowed to benefit from it.

What was the family dispute over the farm?

After his father died, he was shocked to discover that he had in fact only been given a right to use the farm until he reached the age of 60, at which time the farm was to be split equally amongst the five siblings. The promises made by James’ father were not reflected in the will and a bitter dispute followed.

Is it a blessing or a curse to inherit a farm?

Farming without some startup help from your family can definitely mean an uphill climb. But getting the gift of a farm inheritance isn’t always such a blessing either. Many farmers will tell you it would have been impossible for them to get started in the business if it hadn’t been for a “hometown discount” from Dad or an early bequest from Mom.

Do you have to pay estate taxes on inherited land?

Whether the beneficiary (i.e. the person/organization that has inherited the land) decides to hold on to the inherited property, lease, or sell it, there are still some costs that may come with the property. Firstly, you may need to pay estate taxes (sometimes referred to as “death taxes”) for the inherited land.