The Local Initiatives Support Corporation (LISC) is ramping up work to protect Ohio homeowners from housing speculators and foreclosure with the launch of an heirs' property relief program, which could unlock millions of dollars in equity in under-resourced communities.

With a new $750,000 multiyear grant from the U.S. Bank Foundation Opportunity Fund, LISC will work with community-based organizations in Cincinnati and Cleveland to help families that have inherited property but do not have clear title to it—largely because of historical discrimination.

LISC estimates that the heirs' property relief program will help 250 families with low- and moderate-incomes by funding estate planning, legal support and financial counseling that can help clear up clouded property titles. The services complement LISC-supported home repair financing programs that are designed to preserve housing assets and support homeownership in economically vulnerable neighborhoods.

“Safe and stable housing helps children, families and communities thrive. Supporting organizations like LISC to help preserve housing and support homeownership for more people is an investment that will benefit generations to come,” said Erica Opstad, head of community affairs and managing director of the U.S. Bank Foundation.

Heirs' property relief issues have long been a leading cause of involuntary land loss, particularly among Black families. According to federal research, Black residents owned approximately 15 million acres of land in the 50 years following the Civil War; by 2001, 80 percent of it was lost.

“An heirs' property threat can turn into an economic catastrophe for families and communities,” said Michael T. Pugh, LISC president and CEO.  “That’s why this grant from the U.S. Bank Foundation is so valuable—it will help keep people in their homes and protect property values, which is especially important in communities that are facing economic headwinds. We’re enormously grateful for this critical support.”

The effects of heirs' property relief issues are far-reaching. Owners without clear titles cannot access financing to make home repairs that strengthen their property values. They can’t claim a homestead exemption to reduce their taxes. They can’t access disaster assistance in the wake of terrible storms. And they can’t take advantage of their home equity to send their kids to college or pay for unforeseen expenses. All require a clear title to the property.

Read the full article about heirs' property relief at LISC.