Inheriting a house sounds wonderfully simple until the house starts sending bills. The mortgage may be gone, but property taxes, insurance, repairs and, in some states, inheritance taxes can quickly change the math.
The biggest surprise often comes from confusing owning the house with being able to afford the house. A property can arrive with no mortgage attached and still demand thousands of dollars a year, or create a tax bill that makes keeping it difficult. State rules can make that gap even wider, particularly for heirs who are not close relatives or who inherit valuable property.
