Just Economy Conversations: Preserving Homeownership and Wealth Creation by Addressing Heirs’ Property and  Tangled Titles

Join NCRC for Just Economy Conversations, a series of online discussions addressing America’s racial and socio-economic divides. Experts from NCRC and our network will share ideas and strategies to make a Just Economy a national priority and a local reality. The first in the series, “Winning Strategies for CDFIs in Special Purpose Credit Programs,” explored how SPCPs effectively address lending disparities. The second is “Preserving Homeownership and Wealth Creation by Addressing Heir’s Property and Tangled Titles.”

Heirs’ property is created when a property owner dies without a will or another form of estate planning, and the property is transferred to their descendants as undivided interest.  A property title can also become tangled when a property owner completed an estate plan before passing, but their descendants did not complete the formal transfer of title. Without a clear title, heirs’ property owners are vulnerable to land loss, unable to acquire housing finance products and face challenges when accessing federal housing rehabilitation and disaster monies. While title resolution requires legal services, it is imperative that municipalities, housing organizations, housing finance entities and philanthropic organizations work collaboratively with the legal sector to support heirs’ property owners.  

This webinar will provide an overview of residential heirs’ property in urban and rural areas,  describing the risks they pose for long-term homeownership and the limits they place on family wealth building. Presenters will discuss proposed housing finance solutions needed to support heirs’ property owners and successful efforts in New York City, with a focus on lending programs that include eligibility for heirs’ property owners.