ESSENTIAL Steps When Inheriting a Tenant Occupied Property in CA

Inheriting a tenant-occupied property in California can be a complex and overwhelming experience. This video outlines the essential steps to take, including understanding the occupant's legal status, managing emotional challenges, and making informed financial decisions.
Learn how to navigate this complex situation with confidence, including reviewing the lease agreement, communicating with tenants, and understanding your legal obligations as a landlord. We also discuss the importance of maintaining the property, keeping accurate records, and seeking professional help when needed.
Whether you plan to keep the property as a rental or sell it, this video provides valuable insights to help you make informed decisions. Don’t let the challenges of inheriting a tenant-occupied property overwhelm you. With the right information and support, you can turn this situation into a positive experience.
00:00 intro
00:45 Determine the legal status of the tenant
01:20 Make sure you are following the law
01:28 ALWAYS consult your attorney
01:35 Emotional Impact
02:09 Story time
03:55 Talk to the beneficiaries
04:37 Assess the financial impact
05:19 Insurance policy
06:45 Cash for keys - • CASH FOR KEYS! When to...
06:51 Consult with a tax professional
07:20 Outro
Here at Horizon Real Estate we care about helping you, as the estate executor, administrator or trustee. We want you to feel comfortable throughout the probate process, and to help you get the most money quickly from your estate house or trust property.
Kim Ward DRE#01218310
Ashlie Rivera DRE#02042935
[e-mail]
619.741.0111
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Have a probate house or house in a trust and need guidance on how to prepare and sell? Think of this channel as your real estate resource.
If you’re an executor or administrator and want a free copy of my book "What To Do When You’re Responsible For Real Estate A Loved One Leaves Behind" Or, if you’re a trustee and want a free copy of "Exactly What To Expect As Trustee For Real Estate A Loved One Leaves Behind" simply call my office at 619-741-0111.@@
I’m a full time REALTOR in San Diego, California with Horizon Real Estate. I’m an expert at helping executors, administrators and trustees with probate houses and houses in a trust. A wife, mom to three grown sons and a daughter, plus She-she (that’s my grandma name) to the two cutest, smartest and busiest kids.
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I am NOT a lawyer or tax professional. The presentations reflect my own understanding of the underlying subjects. However, the presentation is based on my professional experience in the field of real estate. The information contained herein should NOT be used as a substitute for the advice of an appropriately qualified and licensed attorney, tax professional or contracted real estate agent/broker. The information provided here is for informational purposes only. You should consult with a professional to seek legal advice regarding your exact circumstances.
If you want to talk with me about San Diego real estate, fell comfortable calling me at 619-741-0111 @@or email me at [e-mail]
California DRE license #01218310