Hello All,I inherited an out of state property and for 9 years I have continued using the PM that was previously managing the property.

I was thinking that I inherited the warranty when I purchased the house. 

Although I am assuming it would still be subject to inheritance tax at each distribution.

Get a copy of the report and double check the info that is being input.If that does not lessen the amount, there is more than 1 way to estimate the rebuild cost.  

I used to feel bad for him for this one as he bought the house QC from the previous owner and I guess didn't realize he would inherit the debt.- Filing a fraudulent contractor's lien for over $100k against the bank and me for supposed work done on the property- Forging papers to show he took title to the property this year after the foreclosure auction.- Advertising the property for rent on CL and trying to get thousands of dollars on the spot to secure it.

Was it inherited?

My mom did 2 1031 exchanges on 2 properties she bought in 1971 and made a ton of money and saved over $350K in taxes and now when I inherit it it's stepped up in basis to today's appraised value! 

If it doesn't work out, then you can terminate with 30 days (or whatever tenant at-will period is in your state).Most often, tenants I've inherited needed to go.  

She then tells me that she and her sisters inherited a house when a relative recently passed away.

If it's to inherit the shares and it's a primary , your grandfather can use the lifetime gift tax exemption and gift up to 5.49 million over his lifetime.