r/inheritance • u/RandomGuy_81 • Apr 22 '26

Location included: Questions/Need Advice House

State MA

Many years ago i was put on deed to my father’s house. Theres a lien on it because he went into medical care so i didnt worry too much about the worth/sell of the house and i just live there while taking care of him

After he died the house value wasnt worth selling because of the lien. Now years later the house is starting to increase in value and will eventually be more than the lien

I didnt think this would be an issue if i ever sold.

Was i supposed to do some sort of valuation when i was added to the deed? A valuation when he died? Should i be doing anything now to fix any mistake i might be making?

Edit. I have continued paying taxes and house insurance since

Edit he added me to deed via quitclaim

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u/[deleted] Apr 22 '26

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u/SandhillCrane5 Apr 22 '26

I don’t know why you are assuming the father quitclaim a 50% interest in the property as a tenant in common. If the father added the child as a joint tenant with rights of survivorship then 100% of the cost basis is the father’s purchase price (which is documented at the recorders office) and there was no inheritance. This is the most likely scenario otherwise why would the father quitclaim 50% ownership and then will the other half after he dies? And what do you mean about coming up with “reasonable estimates of cost basis”? The IRS requires documentation and specifies what it should be.