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Updated almost 6 years ago,

User Stats

125
Posts
92
Votes
Jon Behlke
  • Accountant
  • Hopwood, PA
92
Votes |
125
Posts

Father in law passes, leaves 15 rental properties

Jon Behlke
  • Accountant
  • Hopwood, PA
Posted

My father in law passed late last month, leaving 15 C level rental properties that range from single family homes to an abandoned boarding house.  Clearly we understand that we need to speak to an attorney, but due to delays in paperwork, the estate hasn't even been established as of yet.

The problem as you can imagine, is that rental life goes on.  Most of the repairs and other issues we've figured out a system until everything can be established and resolved.  However, we've got a problem I'm not sure how to deal with.  Yesterday, we found that instead of paying their rent, tenants at one property were loading a uHaul and leaving.  We need to keep these units rented in order to maintain the expenses.  Question is, we're about to list this duplex for rent again, but who do we list as landlord?  Obviously it can't be my father in law because he has passed, can't be "estate of" because that doesn't exist yet.  

Anyone that has any tips on this situation or on inheriting rental properties in general are greatly appreciated.  My wife and two brothers have been raised in the landlord lifestyle so we are planning on keeping everything we can, just need some short term assistance while we learn some things and rearrange our lives.  Thanks.

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