- January 30, 2024
- Bulletin No: 2024-03
In 2023, the Federal Home Loan Bank of Dallas (Bank) awarded $905,200 in inaugural Heirs’ Property Program grants through 15 participating member financial institutions.
The Heirs’ Property Program was created in 2023 after feedback from members about the challenges faced by lower-socio-economic households in resolving heirs’ property issues and the burdensome expenses that can make remediation economically challenging. Heirs’ property refers to property inherited without a will or legal documentation of ownership. As property is passed down, each successive generation generally results in more heirs being added to the inheritance. The absence of a deed or will can make it more complicated to obtain a clear title to land or homes as time passes. The inability to provide clear title can make it very difficult for families to transfer, or obtain loans on, the impacted property.
The 2023 funds will assist 21 organizations with clearing an estimated 442 titles and prevent heirs’ property issues for more than 900 individuals. The funding is also expected to assist more than 8,200 people with training and education.
Organizations were eligible to receive up to $75,000 in 2023. In 2024, the maximum grant will increase to $100,000, and the total funds made available to the program by FHLB Dallas has increased to $2 million (up from $1 million in 2023). The application window for 2024 will be from September 3 to September 30.
Visit our Community Programs page for more information on our community investment offerings. A complete list of members and organizations that received Heirs’ Property Program funding in 2023 is available here.
For questions regarding the Heirs’ Property Program, please contact Community Investment at 800.362.2944.
Sanjay K. Bhasin
President and Chief Executive Officer