Homeownership is a key asset that helps families build financial resilience and wealth. And many homeowners hope to pass their home to the next generation. But the prospect of heirs' property limits access to the financial benefits associated with property passed down by earlier generations.

Heirs’ properties are the result of an unclear or clouded will or estate plan, where multiple descendants own undivided interests in the property as “tenants in common.” Without clear ownership, such properties are at higher risk of foreclosures attributable to nonpayment of taxes or outstanding liens, and they are more likely to face deterioration from difficulty with upkeep. They also leave owners vulnerable to predation by third-party actors that buy out partitions of the property and force sales that can strip families of their equity in the home.

These challenges touch all families. Our research estimates that heirs’ properties account for about $243 billion in real estate value nationally among single-family homes owned by households ages 50 and older. They’re a greater threat (PDF) to homeowners of color, who are less likely to have deeds or wills and are more likely to have multiple descendants. And although heirs’ properties have predominantly been considered a rural phenomenon, research increasingly suggests families in urban areas are also affected.

Our Work

The Urban Institute’s Housing Finance Policy Center has been building a body of research on heirs’ property and has been convening leading experts from around the country to discuss this important topic. Explore our events and analyses below to learn more.