What You Need to Know About Inheriting a Home in Alberta
Inheriting a home in Alberta is a meaningful milestone—but it can also be full of surprises if you’re not prepared. Between legal paperwork, tax implications, and decisions about what to do with the property, the process can feel overwhelming. As someone with experience in construction and Calgary real estate, I’m here to walk you through every step with clarity, confidence, and compassion.
Understand What You’ve Really Inherited
Your first move is to figure out exactly what the estate includes. Is the home owned free and clear, or is there a mortgage or lien attached? Are multiple heirs involved? Do you want to live in it, rent it out, or sell it?
Understanding the property’s status and any financial obligations attached lets you explore your true options.
Mortgage & Tax Considerations in Alberta
There’s no inheritance tax in Alberta, which is great news. But there are still some costs and tax considerations to be aware of.
Capital gains tax applies if you sell the property later for more than its value at the time of inheritance.
Probate fees in Alberta cap around $525 based on estate value.
If the home carries a mortgage or line of credit, you can assume the existing mortgage (with lender approval), refinance into your name—often at rates like 4.50%, or pay off the mortgage using estate funds or personal assets before transferring title.
Maintenance, insurance, and property taxes also become your responsibility once the property is in your name—so budget accordingly.
Should You Keep It, Rent It, or Sell It?
Keep & Move In
This is a great option if you need a home, love the location, and are ready for long-term ownership. You can refinance to secure a better mortgage rate or access equity for improvements.
Rent It Out
If you’re looking for passive income and the home’s in a strong rental area, this could be a great way to hold onto the asset without having to live in it.
Sell the Property
This is often the cleanest route when other heirs are involved or if you simply want to cash out and invest elsewhere.
Legal and Practical Next Steps
Complete probate to validate the will and empower the executor to manage the estate. Then transfer ownership via Alberta Land Titles using the probate order or executor appointment document. Be sure to clear any liens, debts, or unpaid taxes on the property before it becomes fully yours.
Update Your Will & Plan for the Future
Inheriting property often changes your long-term outlook. Now’s a good time to update your own will, especially if the inherited home is a significant asset. It’s also smart to consult with a financial or estate planner to ensure your broader goals are aligned.
Navigate the Emotional and Family Impact
Homes carry memories—and sometimes complex family dynamics. If multiple heirs are involved, open communication is key. In some cases, mediation or professional advice before making decisions can help avoid misunderstandings.
Sentimental value is real. If you’re not ready to make a decision right away, that’s okay. Just make sure you’re also thinking long term.
Big Decisions
Inheriting a home in Alberta opens doors—but it also comes with decisions and responsibilities. Whether you're planning to live in the home, rent it, sell it, or leverage it for other investments, you're not alone in this journey.
Let’s get clear about your options and make the process as smooth as possible. We are here to talk through your options and have great referral partners for mortgage advice, real estate law and home inspections.
Inheriting Property? Let’s Make It Work for You
Dusko Sremac – Calgary & Area REALTOR® | Team Lead, REPYYC
Inheriting a home is a major life event —and one that deserves thoughtful planning. Whether you're looking to move in, rent it out, refinance, or sell, there are smart strategies (and avoidable pitfalls) you should know about. As a real estate pro with experience in construction, estates, and financing, I help clients navigate this emotional journey every step of the way.
At REP YYC, we’ve helped more than 2,000 families navigate their real estate goals in Calgary and beyond. With hundreds five-star reviews, our focus is on more than just selling—we’re here to guide, support, and deliver results you can trust.
If you’ve recently inherited a home, aren’t sure where to start and ready to talk, let’s connect. We have vetted connections for legal, mortgage, and inspection advice to help you move forward—confidently and stress-free.
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