You inherited a job you never applied for.
Along with the building come tenants, leases, deposits, repairs, and a legal role you may not want. None of that requires you to become a landlord.
Hand off the buildingYou are the landlord the moment they die
Existing leases generally survive the owner's death and bind the estate and the heirs. That means rent collection, habitability obligations, security deposit accounting, and repair duties land on you immediately, often before probate has even been opened.
Where the property sits in a jurisdiction that adopted Kentucky's version of the Uniform Residential Landlord and Tenant Act, specific statutory duties apply. Where it did not, the lease terms carry more of the weight. Either way you are now responsible.
The records are usually a mess
Deposits held in an account nobody can identify. Leases that were verbal. Rent paid in cash with no ledger. Repairs promised and never documented. Heirs inherit all of it without any of the context.
Reconstructing that is real work and it matters, because deposit accounting and lease terms have legal consequences. A Kentucky attorney is worth an hour here.
Selling without becoming a landlord first
We buy inherited rentals with tenants in place. You do not need to evict, turn units, learn the local ordinance, or track down deposit records before selling.
The estate timeline is not a problem for us either. We can be under contract while probate authority is established and wait for the court. Ask about stepped up basis before you close, because it usually affects the tax outcome significantly.
Five questions. That is the whole thing.
We already know your situation from this page. Change it if it does not fit.
Question 1 of 5
What people ask about this
Do I have to honor the existing leases?
Generally yes. Leases typically survive the owner's death. Talk to a Kentucky attorney about your specific leases.
What about the security deposits?
They are an obligation that transfers. Find whatever records exist. At closing they are usually credited to the buyer.
Will selling trigger a big tax bill?
Inherited property often receives a stepped up basis, which can substantially reduce gain. Ask a CPA rather than assuming either way.
Often it is more than one thing at once
Hand off the building.
No cost, no obligation, and nobody shows up at your door unless you ask them to.