San Antonio, TX 78204
P.O. Box 839966
San Antonio, TX 78283
Published on Wednesday, March 31, 2021
CONTACT: Ximena Copa-Wiggins, (210) 207-0221
SAN ANTONIO (Mar. 31, 2021) – The Vacant Building Program (VBP) is hosting a series of virtual conversations to inform homeowners on potential circumstances that can lead to vacant homes. These webinars will help families build generational wealth by planning how to manage their properties for the future. Preventing and Resolving Heirs Property: Untangling the Ties of Multiple Owners, first in the series, will be held on Thursday, April 8, at 6:00 pm.
“Property ownership is the top method for families living below the median area income to transfer wealth to their descendants. This webinar is for anyone that owns a home and does not have a succession plan for their property after their death,” said Shanon Miller, OHP Director. “It is also for everyone that has inherited property with other family members and cannot find a way forward.”
Heirs property, or when multiple people own an inherited property, is complex and pervasive form of ownership. It can lead to multiple issues such as a tangled title, tax foreclosures, property deterioration, vacancy, and destabilization of neighborhoods. The webinar will open the discussion on methods and techniques to avoid title issues upon death, and recent law changes allowing some heirs property owners to claim a full homestead exemption.
Unfortunately, many of the properties in the program’s inventory sit in this unstable type of property ownership making it difficult for forward positive activity. VBP staff is focused on owner education with a goal of preventing future vacancy, increasing generational wealth, and neighborhood stability.
Registration information is available at: http://tiny.cc/propertytalk.
The Vacant Building Program was created with the goal to address the root causes of vacancy, increase public safety, and encourage economic development by working with property owners of vacant buildings to bring their properties back into productive use.
Author: Melanie Morales (GPA)
Categories: City News, Historic Preservation News