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Updated over 9 years ago,

User Stats

711
Posts
334
Votes
Brett Synicky
Pro Member
  • Solo 401k and SDIRA Consultant
  • Orange, CA
334
Votes |
711
Posts

Do heirs get stepped up basis for real property

Brett Synicky
Pro Member
  • Solo 401k and SDIRA Consultant
  • Orange, CA
Posted

Here's a question for all you probate attorneys out there. My guess is that it's a softball but google couldn't even hit a slow pitch so here I am. 

Scenario:  Two brothers own a piece of real property together 50/50. Title is vested as tenency in common. Brother B passes away intestate. Brother A still owns property 4 years later with brother B still on title as 50% owner. No probate has occured. 

Question. Assuming probate occurs and brother b's heirs split his 50% with brother A, now they're all on title and want to sell the property. Do brother B's heirs get a stepped up basis on his 50% based on the value of the home at his passing?  

  • Brett Synicky
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