So, You Want To Keep The House?

Mom or Dad has passed away, the probate process is underway, and there it is: the house.

Maybe it’s the house you grew up in. Maybe it has been in the family for generations. Maybe you have already mentally moved your furniture into the living room and decided that the wallpaper in the guest bathroom has got to go.

Whatever the reason, you want to keep it.

Great. Now comes the slightly less sentimental question: How?

The answer depends largely on who else inherited it—and whether everyone agrees with your plan.

Only Child? This May Be the Easy Version

If you are the only beneficiary entitled to the house, things can be relatively straightforward. As part of the estate administration, the property can generally be distributed and deeded to you.

Congratulations. You now own the family home.

But before you start picking paint colors, remember that receiving the house does not necessarily mean receiving it free and clear. Mortgages, liens, unpaid taxes, and other encumbrances do not magically disappear because the owner died.

In other words, you may have inherited the house. You may also have inherited a very expensive monthly payment.

Have Siblings? Still Potentially Easy.

Suppose Mom had three children and left everything equally among them.

You want the house. Your siblings do not.

If everyone gets along and agrees on the numbers, this can still be relatively painless. First, you need to establish the value of the property.

If the house is worth $600,000 and three siblings are entitled to equal shares, each sibling has $200,000 of value tied up in the house. Sometimes there is enough cash or other property in the estate to even things out—you get the house, while your siblings receive more of the remaining assets.

If not, you may need to buy them out. That may mean cash, financing, or a new mortgage.

And it definitely means having the conversation before assuming everyone is fine with you getting the house because you called dibs.

Now, About That $600,000 . . .

This is where an otherwise agreeable family can suddenly become very interested in Zillow.

You think the house is worth $550,000 because the roof needs work and the kitchen has not been remodeled since 1999. Your sibling thinks it is worth $725,000 because a house three streets over sold for that much last summer.

Neither number becomes correct because someone says it louder.

An appraisal can provide a neutral starting point. The important thing is reaching a value everyone can agree on—or at least grudgingly accept.

And Then There Is the Not-So-Easy Version

Sometimes one beneficiary wants the house, and another does not want them to have it. Or two siblings both want it. Or everyone agrees on the buyout—until they see the appraisal. Or someone insists Mom promised them the house. Now we have a problem.

The Personal Representative has obligations to administer the estate according to the estate documents and Washington law. The house generally cannot simply be handed to one beneficiary at a sweetheart deal because that person really, really wants it.

If the beneficiaries cannot agree on the value, buyout, or distribution, court involvement may become necessary. The house may ultimately need to be sold. And if multiple beneficiaries become co-owners but cannot agree what to do with it, things can get even messier. And more expensive.

Before You Say, “I Want the House”

Before deciding to keep the house, know what it is worth, what debt comes with it, what everyone else is entitled to receive, and whether you can afford any necessary buyout.

Family homes carry memories, history, and emotion. They also carry property taxes, insurance, maintenance costs, mortgages, liens, and occasionally siblings with very strong opinions.

So, while inheriting Mom and Dad’s house may be sentimental. Negotiating with your siblings over who gets it, that’s business. And getting legal advice before everyone retreats to their respective corners can save the estate—and the family—a lot of time, money, and frustration.