If you stand to inherit a property, such as a family home or vacation condo, the gift presents a critical financial decision: whether to sell, rent or keep it. While the inheritance itself may be a blessing, often it’s the result of losing a loved one who’s passed away, which could complicate matters from an emotional and practical standpoint. Do you wish to hold onto to the property for sentimental reasons? Is it financially possible to maintain it if you already own or rent a residence? Do you own it outright, or is it a split inheritance with other beneficiaries (e.g., siblings) whose own financial situations and priorities will need to be considered?
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