“I view this as a social justice issue,” said Joan Flocks, director of social policy for the Center for Governmental Responsibility at the University of Florida’s Levin College of Law. She said heirs’ property “disproportionately affects low-income families and families of color.”
Danaya C. Wright
There's a racial gap in homeowning, too. In 2019, the rate of white homeownership was nearly 74%, while the Black homeownership rate was 30 points lower. Experts say there are a few strategies to ensure the value of a family home doesn't disappear. Number one is not selling it to an investor who comes calling unsolicited, offering cash. Realtors say properties typically sell for more when they're sold on the open market. And for homeowners who want to ensure that there's a plan for the property, a will is crucial, and a trust is even better. Danaya Wright, a law professor at the University of Florida, studied what happened to properties when the owners did or did not have wills.