The Basics of Heirs Property
Define heirs property.
Property that is passed down from generation to generation without a will or estate plan.
What does UPHPA stand for?
Uniform Partition of Heirs Property Act
How old is the Federation?
56 years old
What does it mean to die intestate?
To pass without a will and the assets in an estate are distributed according to state law.
Where can you go for FREE family and agricultural mediation?
THE FEDERATION!*
Does paying taxes on your heirs property establish you as a landowner?
No
Who was the first state to pass the UPHPA?
Nevada, 2011
What is the cost of the individual membership fee?
$50 per year
What is an affidavit of heirship?
A legal document that establishes all legal heirs to the property.
What are the states within the Federation for Mediation?
Georgie, Florida, Mississippi, Louisiana
What is a partition by sale?
The legal process where jointly owned property is sold entirely for the earnings to be divided among all heirs according to their interests.
What are some of the benefits of the UPHPA to heirs property landowners?
Requires Notice to all Heirs
Provides First Right of Refusal
Appraises for the Current Market Value of Land
What year did the Federation begin the annual Heirs Property Bootcamp?
2019
What is Alabama's inheritance tax?
0%
What are the two kinds of mediation the Federation provides?
1. Family Mediation
2. Adversary Agricultural Mediation
What does it mean to have a "clear title"?
To legally own property with documentation that reflects all the landowners accurately and free of any defects or encumbrances.
What piece of legislation introduced the UPHPA?
2018 Farm Bill
What are the seven states the Federation focuses on?
Texas, Louisiana, Mississippi, Alabama, Georgia, South Carolina, and Florida
What is a will?
A legal document notating what to do with your assets when you pass.
Are all heirs required to attend the mediation?
It is not required, but highly recommended. Mediation is a voluntary session and welcomes all those who wish to be present.
What is the legal term for heirs who own heirs property?
Tenants in Common
Under the 2018 Farm Bill Section 12615, can heirs property owners obtain a Farm Number for USDA funding?
YES!
What are the three buckets of work that the Federation does?
Cooperative Development, Land Retention, and Advocacy
In addition to a will, what are some documents that make up your estate plan?
Living Will, Power of Attorney, and a Healthcare Power of Attorney
What is the role of a mediator?
A neutral third-party that assist in facilitating the discussion between two or more parties to work toward a mutually agreed upon outcome.