Louisiana Successions: Inheriting & Selling Property | RE: Real Estate Podcast
RE: Real Estate Podcast — Episode 75 Show Notes
CONTENT TYPE
Discussion
PRIMARY GOAL
Educational
SUMMARY
This episode explores the complexities of inheriting and selling property in Louisiana, covering the succession process, common legal pitfalls, multi-heir disputes, tax implications, and practical steps heirs can take to protect their families and simplify the process.
KEYWORDS
Louisiana succession, inherited property, estate planning, probate vs succession, multi-heir property, undivided interest, stepped-up basis, capital gains, flood zones, vacant home insurance, judgment of possession, succession attorney, intestate, real estate heirs
KEY TOPICS
- Legal difference between succession in Louisiana and probate in other states
- Simple succession vs. judicial succession — the $125,000 threshold and what it means
- Multi-heir problems: undivided interest and unanimous consent requirements to sell
- How liens attach to an heir's fractional share and can block or derail a sale
- Family dynamics and the real-world cost of delayed or unresolved successions
- Title clouds and legal complications from improperly executed out-of-state deeds
- Getting inherited property ready to sell: as-is pricing vs. investing in updates
- Estate sales as a practical tool for clearing belongings among multiple heirs
- Vacant home insurance: vacancy clauses and the elevated cost of short-term policies
- Flood zone complications when selling inherited property in Louisiana
- Step-up in cost basis: how heirs can minimize capital gains tax exposure
- Louisiana's lack of a state estate tax and why a CPA still matters at closing
- Why a qualified succession attorney matters more than a non-attorney notary
- Creating a "doomsday book" to ease estate administration for your family
HOSTS
Ben Harang, REALTOR®
Clint C. Galliano, REALTOR®
TITLES
Louisiana Successions: Inheriting & Selling Property | RE: Real Estate Podcast
What Happens When You Inherit Property in Louisiana? | RE: Real Estate Podcast
Sell Inherited Property in Louisiana: The Succession Guide | RE: Real Estate Podcast
SOUND BITES
"Just because you inherit a piece of a property doesn't mean you can sell it." — Ben Harang
"Every month you wait makes it more complicated." — Clint Galliano
"If you don't have a will and you do die, you have a will. It's just that the state decides what is going to happen to your possessions." — Ben Harang
"It's not a do-it-yourself kind of thing — get some help and get it done right." — Ben Harang
CHAPTERS
RESOURCES
Louisiana Law Help – Heirship in Successions Overview — https://louisianalawhelp.org/resource/heirship-in-successions
Your Guide to a Louisiana Succession — https://louisianalawhelp.org/resource/your-guide-to-a-louisiana-succession
LSBA – Find an Attorney in Louisiana — https://www.lsba.org/Public/FindLegalHelp/FindAttorney.aspx
IRS Publication 551 – Basis of Assets (Stepped-Up Basis Guide) — https://www.irs.gov/publications/p551
FEMA Flood Map Service Center – Check Your Property's Flood Zone — https://msc.fema.gov/portal/search
SHOW LINKS
Website — https://rerealestatepodcast.com
Facebook — https://www.facebook.com/rerealestatepodcast
Instagram — https://www.instagram.com/rerealestatepodcast/
HOSTS
Ben Harang REALTOR® | Keller Williams Realty Bayou Partners La.
License #: 36589
Mobile: 985.859.2500
Office: 985.262.4400
benharang.com
Clint C. Galliano REALTOR® | Keller Williams Realty Bayou Partners
License #: 995704723
Mobile: 985.647.4479
SMS Hotline: (985) 200-5447
Office: 985.262.4400
SoLahomegroup.com
Produced by: Clint Galliano | Music by: Wiggins Studios
Creators and Guests
Host
Ben Harang
Ben Harang brings over 30 years of experience as a licensed agent and currently works with Keller Williams Realty Bayou Partners. Ben’s experience includes single family residential sales, large land sales, subdivision development, building new construction residential and commercial projects and selling REO/Foreclosed properties.
Host
Clint C. Galliano
Clint Galliano, who’s been an agent since 2020 & an investor since 2008, also with Keller Williams Realty Bayou Partners. Clint’s experience includes residential sales, residential rentals, property management, and various avenues of investing.
