What happens to your RE when you have no will?

[Account Closed]

I was reading this article and thought I would share it. A couple had owned the home passed away over time. Two of their children then lived in the house and they have passed away. The issue is who owns the property and what are the tax issues. Obviously if you own RE you should have a will at the very least and should consider some estate planning.

http://www.nj.com/business/index.ssf/2010/11/no_will_creates_real_estate_co.html