Inheriting a house can be both an emotional and financial challenge. The house may be a cherished link to a loved one, making it difficult to part with, even if keeping it isn’t practical. Grieving can complicate your ability to make decisions, and the reality of property taxes, maintenance costs, and legal responsibilities can add a lot of undue stress. Many realize they can’t afford to keep the house or live too far away to manage it. If you’ve recently inherited a house in the Tampa Bay area, including St. Pete or Sarasota, here are five questions you need answered to navigate your inheritance with clarity and confidence.
#1: What is probate?
If you inherit a house, chances are you’ll need to go through probate—a legal process that settles a person’s estate after they pass away. If they left a will, the court reviews it to make sure it’s valid and oversees the distribution of assets to the heirs. If there’s no will, the court follows Florida’s probate laws to decide who gets what.
The person in charge of handling the estate is called the executor. They’re either named in the will or appointed by the court. Their job includes managing the estate, paying off any debts, and making sure that assets (including the house) are properly transferred or sold. This process involves a lot of paperwork and communication with heirs.
Sometimes, disagreements among heirs can cause delays, especially if there are disputes over the house or other assets. If that happens, the court may need to step in, which can drag out the process for months or even years. Since probate laws can be complicated, working with an experienced attorney can help ensure everything is handled correctly and smoothly.
#2: What taxes do you have to pay on an inherited house?
Florida doesn’t have a state inheritance tax or estate tax. However, federal estate taxes may apply if the total estate exceeds the federal exemption limit, which is currently over $13 million for an individual and over $27 million for couples, as of 2025.
If you plan to sell an inherited house in Tampa Bay, you may be required to pay a transfer tax. Florida’s current transfer tax rate is $0.70 per $100.
When it comes to capital gains tax, the IRS applies a stepped-up basis when calculating capital gains tax on an inherited property. Instead of paying taxes on the difference between the original purchase price and the selling price, heirs are taxed on the difference between the property’s value at the time of inheritance and the selling price.
If you have lived in the property for at least two of the last five years, you may qualify for the primary residence capital gains tax exclusion, which allows you to exclude up to $250,000 ($500,000 for married couples) of the sale profit from your taxes.
#3: What happens if multiple people inherit a property?
If multiple heirs inherit a property, they must agree on whether to keep or sell it. Some may want to keep it, while others prefer to sell, which can lead to disagreements.
If heirs can’t come to a decision, those who want to sell may file a partition action lawsuit in Florida probate court. This legal process forces the sale of the property and distributes proceeds among the heirs.
To avoid costly and time-consuming court battles, mediation with a neutral third party can help all parties find a solution.
#4: How do you transfer property ownership after probate?
After probate is finished, the property deed must be officially transferred—either to the heirs if they’re keeping the house or to the buyer if it’s being sold. The executor is responsible for filing the new deed with the county comptroller’s office to make it official.
Since even small mistakes can cause delays, hiring an attorney can help ensure everything is done correctly and meets legal requirements.
In Tampa Bay, transferring a deed comes with some costs. Recording the deed typically costs around $10 per page, plus additional fees. Legal fees vary depending on the complexity of the estate but can range from a few hundred to several thousand dollars.
#5: How long does an executor have to sell an inherited house?
In Florida, estates must go through probate within 2 years of the original owner’s passing. Once the probate process begins, it needs to be completed within a reasonable time.
Waiting too long to sell an inherited house can lead to growing expenses like property taxes, maintenance costs, and insurance fees. Selling sooner can help avoid these extra costs and reduce financial stress.
How can you sell an inherited house fast in Tampa Bay?
Many inherited houses require repairs and updates to attract buyers, especially when selling on the traditional real estate market. But preparing a house for sale can be time-consuming and costly, and you may not be able or want to make that effort just to sell the property.
Traditional real estate sales involve agent commissions and potentially long listing times. Here at We Buy Ugly Houses®, we never charge commissions or any hidden fees, and we even pay all typical closing costs.†
When you sell to an off-market buyer like We Buy Ugly Houses, you can sell your house “as is” without repairs, cleaning, or staging. We can even take care of unwanted items you don’t want to keep, free of charge.
Sell your inherited house in Tampa, St. Petersburg, or Sarasota the easy way.
Inheriting a house in Tampa Bay can be overwhelming, but your home sale doesn’t have to be. With our 3-step home-buying process, we can provide you with a quick home sale that focuses on you.
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Get a free, no-obligation consultation with one of our local property buyers who understands the Tampa Bay market. They will visit the property, assess its value, and answer any questions you may have. We can sometimes provide offers on the same day.
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Upon acceptance of an offer we make, we provide you with a 3-day window to review your decision. If you decide that our offer isn’t right for you, notify your We Buy Ugly Houses property buyer in writing within those 3 days.
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After you make your decision, we can close fast, sometimes in as little as 3 weeks. If that sounds too soon, we do our best to work with you to determine a closing date that fits your schedule.
Selling an inherited house can be easy when you partner with We Buy Ugly Houses in Tampa Bay. Contact us today for a free consultation with no obligation.
This blog is for informational purposes only and should not be considered legal advice.
