FAQ

75% of the sales price, minus any property expenses (but not closing expenses or real estate commissions) and debts of the estate.

We will probably have a good estimate of the debts of the estate before we start.

Not on properties worth less than $100,000. On certain properties of higher value this might be possible.

We haven’t yet, but on a low value property, with a lot of heirs, and not all heirs participating, this might be possible. We’re not looking for those kinds of deals.

Either with a check or bank wire from the closing agent.

We have a program for all cash at signing. We may be able to do some kind of combo, with part of the cash at signing and more at closing.

A closing agent is a neutral third party who does not represent the buyer or the seller, but makes sure both sides perform. In a real estate transaction, the closing agent first gets the money from the buyer and the deed from the seller, then records the deed and pays the seller.

In Florida, a closing agent can be an attorney or a title company.

Usually in about 2-3 months. If the property is especially undesirable or the real estate market is especially soft, it could take a little longer, but that’s been rare.

We get paid from the estate, at the end, when we sell the property. Until then, we advance all the costs and fees.

The heirs pay nothing up front. They just give up part of the sale price.

No, this money is tax free. We provide the documentation on this for the heirs’ tax preparers. Of course, we cannot give tax advice, but we have never seen a case where the money to an heir was taxable.

No. With most of the estates we handle, there is no will.

If there is a will, it must be followed.

When there’s a will, it’s easy. The heirs are listed in the will.

When there is no will, there are formulas for who gets what. Sometimes it’s easy. Sometimes it’s quite complicated.

With most of the estates we deal with, there’s no will. After we interview the survivors, we can figure out who gets what.

Sometimes, people we think are heirs turn out not to be. Sometimes, people we think aren’t heirs turn out to be.

It depends on the case. In some cases, we need them all. In other cases, we can get cash to the heirs we can find. Usually, once we find one heir, we find the others.

Heir hunting (or heir finding) is legal and has been going on for centuries. The BBC even made a TV series about a team of heir hunters.

We have forms to help heirs stay out of court, and we’ve never had it happen.

Once, and only once, we had a judge who wanted to speak to an heir on the phone to clarify something. The call lasted about 5 minutes. That was it.

You Have Inherited LLC is fairly new, established in early 2021, but the principals have been dealing with real estate for many years, as buyers, sellers, landlords, property managers, real estate investment trust trustees, probate representatives, and petitioners before Florida courts on real estate matters.

No, but we work with attorneys. If you have one, we can work with yours.

No.

No license is required for what we do.

Yes. You Have Inherited LLC is registered with the Florida Secretary of State, Division of Corporations. We are also members of the Florida Land Title Association, the Institute for Professionals In Taxation, and the Unclaimed Property Professionals Association.

Much of our success is documented in probate court records. However, even though those records are officially classified as public records, Florida law does not allow most probate records to be available online.

Contact us and we’ll show you how to see the important parts of these records, without having to go to the courthouse.