When you discover you are inheriting a home, you have a few options. You can:
Occupy the home,Sell the home,Rent the home
There a number of reasons people choose to disclaim, sell, or rent out a home. They may already have a house, the home may be underwater or require extensive (and often expensive) repairs, or the taxes and mortgage may simply be beyond the person’s budget. Finally, there may a dispute among siblings about the house and renting it could be way of appeasing all parties involved, and making a little extra income in the process. Of course, there are definitely pros and cons to this route. You should weigh them both carefully before deciding to rent the property out to prospective tenants.