Sell an Inherited House in Carteret, NJ

Inheriting a house usually arrives at a hard time, with questions you did not expect to be asking. You are allowed to take it one question at a time, and the first question is not about price.

First: who is allowed to sell

A house can only be sold by the person with legal authority to sell it. That may be an executor named in a will, an administrator appointed when there is no will, or all of the heirs together, depending on the case. In New Jersey, estate matters go through the county Surrogate, and an estate attorney can tell you what applies to your family.

This site cannot tell you who has authority. What it can tell you is that settling the question first saves the most time later, because a buyer, a title company and an attorney will each ask for the answer.

Documents worth looking for

• The will, if there is one, and any court papers that name an executor or administrator.
• The deed, and the name or names on it.
• A recent mortgage statement or payoff figure, if the loan is still open.
• The most recent property tax bill and any notices about unpaid amounts.
• Insurance details for the house.

When there are several heirs

Siblings and relatives often disagree about whether to sell, when and for how much. A sale generally needs everyone with an ownership interest to agree or to be represented. If agreement is hard, say so honestly in your request, and consider a neutral professional such as an attorney or mediator before you invite offers.

The house while you decide

Ask a tax professional how an inherited property is treated for tax purposes before you decide anything. The rules about the value used when you sell can matter, and they are not something a website should answer.

If the house is also empty, read about selling a vacant house. If it needs significant work, the page on repairs covers how to describe it.