Do heirs get stepped up basis for real property
Here's a question for all you probate attorneys out there. My guess is that it's a softball but google couldn't even hit a slow pitch so here I am.
Scenario: Two brothers own a piece of real property together 50/50. Title is vested as tenency in common. Brother B passes away intestate. Brother A still owns property 4 years later with brother B still on title as 50% owner. No probate has occured.
Question. Assuming probate occurs and brother b's heirs split his 50% with brother A, now they're all on title and want to sell the property. Do brother B's heirs get a stepped up basis on his 50% based on the value of the home at his passing?
