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Selling a home I inherited

What do I owe, and what has to happen first?

Step 6 of 6

How do the proceeds get divided at closing?

The answer

The sale itself works like any other: inspection, appraisal, closing with an attorney. The difference is where the money goes. Proceeds go to the estate and are distributed according to the will or state law, usually by the attorney, after the estate's debts and expenses are paid. Keep every record; you may need them at tax time.

Relief and grief tend to arrive together at this closing. Both are normal.

How long
Most people spend about a month here.

In Georgia

In Georgia the closing attorney disburses sale proceeds; for an estate sale, funds typically go to the estate account for distribution rather than to individual heirs at the table.

What to do0 of 5 done
  • How to: Inspection handled

    Respond to the buyer's inspection and repair requests through your agent

  • How to: Settlement statement reviewed

    Review the settlement statement with the attorney before closing

  • How to: Distribution plan confirmed

    Confirm how and when proceeds will be distributed to heirs

  • How to: Records kept

    Keep records of the sale, expenses and distributions

  • How to: Insurance and utilities closed out

    Cancel insurance and utilities after the deed records

Go deeper
What people wish they'd known
  • Distributing before debts and expenses are settled. The estate pays first.
  • Not keeping records. Heirs and the tax preparer will ask.
  • Leaving distribution informal. Written accounting prevents disputes later.

From the Thrive team

  • Let the attorney handle the distribution. It protects the executor and keeps everyone on the same page.

That's the whole path.

Keep it, and come back any time. If something here doesn't fit your situation, ask one of us.

Questions you'll probably have

Questions about your situation?

Elliott or Ashley will answer, usually within one business day. No pressure, no pitch.

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