The #1 Guide to Sell Inherited Land in Louisiana
Selling inherited land in Louisiana can feel like winning the lottery and then realizing you have to do the paperwork. Whether it’s a family plot near the bayou, a lush swath of agricultural land, or a quiet forest retreat, this newfound property is not only sentimental but also has real financial potential. With the average price of land in Louisiana hovering around $4,500 per acre, the value of inherited properties continues to rise. In fact, Louisiana boasts nearly 8 million acres of farmland, much of which has been passed down through generations.
But, with great land comes great responsibility. You’ll need to confirm ownership, deal with taxes, and decide whether to keep or sell. Lucky for you, this guide is here to help you untangle all the red tape. We’ll walk you through everything, from Louisiana’s land laws to getting your property ready to sell. Let’s transform that family heirloom into a golden opportunity!
How to Sell Inherited Property in LA
Selling inherited land isn’t like throwing a “For Sale” sign in the yard and calling it a day. Between ownership details, taxes, and handling any unresolved family matters, it’s a bit more involved. But don’t worry! Here’s a step-by-step breakdown to make this process as smooth as a gumbo on a Sunday.
1. Gather All Essential Documents
Before diving into the sale, you’ll need to round up the right documents to avoid any bumps down the road. Being prepared will help speed things along and prevent legal headaches. Here’s what you’ll need:
- Proof of Inheritance: A will, probate documents, or a court order confirming your ownership.
- Property Title: If you can’t find it, don’t panic—just request a copy from the local courthouse.
- Property Tax Records: Ensure there are no unpaid taxes lurking in the shadows.
- Outstanding Liens or Mortgages: Any debts tied to the property need to be cleared before a sale.
2. Secure Legal Ownership of Your Land
Before you can even think about listing that land, you’ve got to make sure the deed is in your name. The deed includes the property’s legal description, boundaries, and parcel identification number. With Louisiana’s 64 parishes, you’ll need to check with the local clerk’s office where the deed is recorded. If anything looks off, a quick call to an estate attorney will set things right.
Once your name is on the dotted line, you’re free to make decisions about selling, developing, or hanging onto the property.
3. Pay Off Any Unpaid Property Taxes
Louisiana’s land might be swampy in spots, but that doesn’t mean you want to wade through back taxes. If there are unpaid taxes from the previous owner, those need to be squared away before selling. Head over to the parish tax assessor’s office to check the property’s tax status and get any lingering payments off your to-do list. Missing payments can lead to tax liens, and nobody wants to deal with that.
Consider setting up an automatic payment plan to stay ahead of future taxes and avoid more complications down the line.
4. Clear Any Existing Liens on the Property
Liens are like that friend who never leaves after a party—they stick around until you deal with them. In Louisiana, liens could come in the form of unpaid mortgages, contractor debts, or even homeowners association dues. Run a lien search through the parish records to see if any debts are attached to the property. Common types of liens include:
- Mortgage Liens: Any remaining mortgage balances.
- Mechanic’s Liens: Unpaid bills to contractors.
- Tax Liens: Those pesky unpaid property taxes.
Once you find any liens, contact the lienholder and get them cleared up. Having proof of inheritance can help speed up the process. And trust me, getting rid of these debts will make selling a whole lot easier.
5. Find a Reputable Buyer
Selling inherited land offers several paths, and finding the right buyer is key to a smooth and successful transaction. Depending on your needs and timeline, here are a few options to consider:
- Real Estate Agent: A local real estate agent can help you market the property effectively, handle negotiations, and manage the legal aspects of the sale. They bring expertise, a network of potential buyers, and knowledge of the local market to ensure you get the best possible price.
- Sell By Owner: If you’re confident in your ability to handle the sale yourself and want to avoid agent commissions, you can list the land as a “For Sale By Owner” (FSBO) transaction. This option works best if you’re familiar with real estate contracts and negotiations, but keep in mind it requires more hands-on involvement.
- Sell to a Land Buying Company: For a quick and hassle-free transaction, selling to a land buying company is a great option. Companies like Bubba Land specialize in purchasing land directly, often making cash offers with fewer contingencies. This route is ideal if you’re looking for a fast sale without the complexities of listing and marketing the property.
| Selling Land with an Agent | Selling Land Yourself (FSBO) | Selling to Bubba Land | |
|---|---|---|---|
| Commissions / Fees | If they even accept the listing, it’s typically 10% Commission on the Sales Price for Specialized Land Agents. | Flat-Rate MLS fees, Specialized Land Selling Website fees, & Marketing Fees. Minimum $1,000 in Fees. | $0 Fees: No Commissions or Hidden Costs. |
| Average Days Until Sold | Typically 6 months, depending on the Asking Price. If priced too high you could be waiting years! | Typically 12 months for FSBO, depending on the Asking Price. If priced too high you could be waiting years! | Less than 48 Hours: we can Get You an Offer! |
| Number of Showings | Depends on Asking Price & Agent’s Motivation. The higher the price, the longer it’ll take to sell. | Typically less showings than working with an Agent. Online Platforms outside the MLS attract less buyers. | None: No Showings Required. |
| Who Pays Closing Costs? | Seller typically pays $2,000 minimum for Closing Costs, plus 10% to the Sales Agent. | Seller typically pays $2,000 minimum for Closing Costs. | None: We Cover All Costs! |
| Closing Date | Typically 45-90 days after accepting an offer. | Typically 45-90 days after accepting an offer. | ASAP: You Pick the Date! |
| Costs for Land Improvements | Varies depending on the condition and marketability of the land. | Depends on what’s needed to make the land attractive for sale. | None: We Buy As-Is! |
Will I Need to Go Through Probate to Sell My Inherited Land?
In Louisiana, the process of probate—called succession—is a bit different from most other states but serves the same purpose: transferring a deceased person’s assets to their heirs. Here’s a breakdown of how the succession process works and what to expect when selling inherited land in Louisiana.
1. Seek Professional Guidance
First, it’s crucial to get in touch with a Louisiana probate or succession attorney. They’ll help confirm whether you need to go through probate and what type of succession your situation requires. Since Louisiana has unique succession laws and multiple heirs often complicate things, legal guidance is essential. In most cases, a full or simple succession process will be required depending on the estate size and complexity(
2. Determine If Probate Is Required
If the estate’s value is below $75,000, Louisiana offers a “small succession” process, allowing heirs to bypass formal probate through an affidavit. This faster process is perfect for smaller properties. However, if the property value exceeds $75,000 or involves more complexity, a full succession will likely be required.
3. Begin the Probate Process (If Required)
To start the succession, a petition must be filed with the local court, and the validity of the will is verified (if one exists). The court appoints an executor to handle the estate’s debts, appraise assets, and distribute the remaining property to the heirs. While this can take six months to a year in straightforward cases, more complex estates or disputes may extend the timeline.
4. Address Property-Related Financial Matters
During the succession process, any outstanding debts tied to the property must be addressed. This includes mortgages, liens, and property taxes. Heirs aren’t personally responsible for the deceased’s debts, but the estate must settle them before any property can be transferred or sold.
5. Plan for Inheritance & Capital Gains Taxes
Louisiana doesn’t impose an inheritance tax, but federal estate taxes might apply for larger estates. When selling inherited land, you’ll also want to consider capital gains taxes. The tax basis for the property is generally the value at the time of the previous owner’s death, so any increase in value from that point could be taxed. Consulting with your attorney or tax advisor can help you avoid surprises at closing.
6. Prepare to Sell the Property
Once the succession is complete and any financial obligations are met, you’re ready to sell. You have a few selling options, including using a real estate agent, selling by owner, or selling directly to a land-buying company for a quicker transaction. Having all legal and tax matters squared away will make the sale much smoother.
Partnering with Bubba Land for Seamless Land Transactions
Buying or selling land can be a daunting task, laden with complex legal processes and extensive paperwork. At Bubba Land, we understand that your time is valuable, and our goal is to make your land transactions as smooth and stress-free as possible. By partnering with a professional land company like ours, you can avoid the pitfalls and costly mistakes that often come with navigating land deals on your own.
- No Realtor Fees or Closing Costs: Sell directly to Bubba Land and keep more money in your pocket.
- Hassle-Free Process: Skip the marketing and showings; we make direct offers for a quick sale.
- Fast Cash Offers: Get paid quickly, without the long wait.
- Straightforward Transaction: No complicated negotiations—just a simple, direct sale.
- Reduce Risk: Sell quickly to avoid long listing periods and potential property issues.
In the land business, it’s important to partner with a company that has a proven track record and a commitment to integrity. Bubba Land is dedicated to providing you with a seamless, hassle-free experience, and we pride ourselves on being a trustworthy partner in your land journey. Whether you’re looking to sell quickly for cash or need assistance navigating a complex land purchase, we’re here to help.
Conclusion on Selling Inherited Land in Louisiana
Selling inherited land in Louisiana can feel like a complex process, but with the right knowledge and resources, it doesn’t have to be overwhelming. By securing the proper legal guidance, handling necessary paperwork, and addressing any financial obligations tied to the property, you can successfully navigate the succession process and maximize the value of your inherited land.
Whether you choose to sell through a real estate agent, go the FSBO route, or sell to a land-buying company (like Bubba Land Company – LA), having a clear plan will help you avoid delays and ensure a smoother transaction. Ultimately, transforming inherited land into a profitable venture is well within reach—so take the first steps today and make that family legacy work for you!
Frequently Asked Questions (FAQs)
1. Do I Need to Go Through Probate to Sell Inherited Land in Louisiana?
Yes, most inherited land in Louisiana must go through probate, known as succession. However, if the estate is valued under $75,000, you may be able to use a small succession affidavit to avoid the formal probate process.
2. How Long Does the Probate Process Take in Louisiana?
The probate process typically takes six months to a year, depending on the complexity of the estate. If there are multiple heirs or legal disputes, it may take longer.
3. Are There Taxes on Selling Inherited Land in Louisiana?
Louisiana does not impose inheritance taxes, but you may be subject to federal capital gains taxes. The tax is calculated based on the property’s value at the time of the previous owner’s death, known as the “stepped-up basis”.
4. Can Multiple Heirs Sell Inherited Land in Louisiana?
Yes, but all heirs must agree on the sale. If there is a dispute or a lack of agreement, the sale may be delayed. In some cases, a third-party mediator or attorney may be necessary to resolve conflicts.
5. What Documents Are Required to Sell Inherited Land in Louisiana?
You will need several key documents, including the property deed, proof of inheritance (such as a will or succession judgment), property tax records, and a death certificate. Clearing any outstanding debts or liens tied to the property is also essential before the sale.
Bubba Peek is an experienced real estate investor focused on land acquisition. He holds a Bachelor’s in Finance and a Master’s in Real Estate (MSRE) from the University of Florida, along with the prestigious Certified Commercial Investment Member (CCIM) Designation, held by only six percent of real estate professionals. With over a decade of experience, Bubba blends financial expertise and market insight to deliver outstanding results. As founder of Bubba Land Company, he’s known for offering landowners efficient, hassle-free sales solutions.