So…you just inherited a piece of land. Maybe it’s a few acres in the countryside, maybe it’s a forgotten family parcel tucked away in a different state. And now you’ve got a group text full of cousins asking, “What do we do with this thing?”
You’re not alone. Inheriting land—especially inherited land with multiple owners—can be more stressful than people expect. Toss in the upcoming 2025 tax changes, and suddenly things get real complicated, real fast.
If you’re scratching your head wondering what to do with inherited land, here’s the breakdown, in plain English.
First: Understand the 2025 Tax Buzz
There’s a lot of chatter about potential updates to estate and capital gains tax rules coming in 2025. Congress is tossing around changes that could raise taxes on inherited property, especially if land values have gone up a lot over the years.
Right now, many heirs benefit from something called a “step-up in basis.” Basically, it lets you avoid paying taxes on all the gain that happened during your parents’ or grandparents’ ownership. But if that rule changes? You might owe a lot more if you hang onto the land and decide to sell later.
So it’s not just about who wants to keep Grandma’s land for sentimental reasons—it’s about timing and taxes, too.
Next: Deal With the Multiple Owner Dilemma
If you’ve inherited land with siblings, cousins, or anyone else, decision-making gets tricky fast. Everyone’s got different ideas, financial situations, and maybe even old family drama bubbling under the surface.
Here’s what we recommend:
- Talk openly and early. The longer you wait, the harder it gets. Set a time to discuss options—even if it’s awkward.
- Get everything in writing. Even if you trust each other, a clear agreement can prevent misunderstandings (or worse).
- Understand the title. Is the land held in a trust? Joint tenancy? Tenants in common? This affects what you can legally do.
If the group can’t agree, selling might actually be the easiest way to move on without causing long-term resentment.
Should You Keep It or Sell It?
Ask yourself (and the other owners) a few questions:
- Is anyone local enough to manage or maintain the land?
- Does the land generate income, or just cost you money?
- Is there a clear long-term plan, or is it just sitting there?
- Can everyone afford their share of taxes, upkeep, or potential legal fees?
Sometimes, the emotional value of keeping land just doesn’t outweigh the headache of shared ownership. And that’s okay. Selling it doesn’t mean you’re disrespecting your family—it might actually be the responsible move.
How We Can Help (No Pressure)
We work with folks just like you—people who inherited rural land and don’t want to get stuck in a legal or financial mess. If you’re considering selling and don’t want to deal with listing it, paying a realtor, or sorting out complex ownership, we can make you a no-obligation cash offer.
No pressure, no gimmicks. Just real answers from someone who’s been through this process hundreds of times.
Final Thoughts
Inheriting land can be a blessing… or a burden. Especially when there are multiple people involved. With potential 2025 tax changes coming down the line, it’s smart to look at your options sooner than later.
Got questions or ready to see what your land might be worth? Reach out here or contact us at simplyacres@gmail.com for a free consultation.
All the Best for now,
Matthew & Kathleen
Disclaimer: We are not tax advisors, accountants, or attorneys. This blog post is for general informational purposes only and isn’t meant to be taken as legal or tax advice. Everyone’s situation is different, and laws change—so it’s always best to speak with a qualified professional before making decisions about inherited property or taxes.
