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December 09, 2010

Inheritence Property

Inheritence property consists of real property, cash, and personal belongings that have been gifted to others via a Will, trust, or probate law. Anything that belonged to the decedent must be transferred to a surviving spouse, family members, friends, institutes of education, or charitable organizations.

The most common way to gift inheritence property is through a last will and testament or trust. Estates not protected by a trust must undergo the process of probate. This is required in all states to ensure estates are settled according to state probate laws.

Real Estate Investing article on "Inheritence Property "