ALTA Joins Letter Supporting Bipartisan HEIRS Act of 2024
July 30, 2024
ALTA, along with 20 other industry and consumer groups, sent a letter supporting a bipartisan bill that will provide relief to the countless families across the country that are negatively impacted by heirs’ property.
The letter, which was sent to U.S. Reps. Nikema Williams (D-Ga.) and Byron Donalds (R-Fla.), would establish a grant program to provide legal assistance for heirs’ property owners to clear titles and incentivize states to adopt the Uniform Partition of Heirs Property Act (UPHPA).
“While this issue will not be solved overnight, the resources provided by the HEIRS Act will go a long way toward aiding families across the country experiencing serious challenges associated with heirs’ property,” the letter stated.
According to Fannie Mae, the total assessed value of properties impacted by heirship issues is conservatively estimated to be more than $32 billion across 44 states and the District of Columbia.
ALTA Efforts
- ALTA has endorsed UPHPA, which aims to preserve family generational wealth by ensuring heirs receive fair market value when a forced sale occurs and creating a cost-effective, uniform process to establish ownership rights. The UPHPA has been signed into law in 23 states and introduced in seven others.
- ALTA developed a handout that explains heirs’ property, the harms associated with these types of properties and legislative steps that can be taken to help heirs.
Contact ALTA at 202-296-3671 or [email protected].