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FHLBank Indianapolis, LISC Detroit announce new Detroit heirs' property initiative

last updated on Wednesday, January 15, 2025 in Federal Home Loan Bank Indianapolis

FHLBank Indianapolis and LISC Detroit have announced a new program designed to help resolve and prevent ongoing heirs’ property issues in the city of Detroit. Heirs’ property refers to land or property passed down among family members without a formal will or estate plan. The program, Detroit Heirs’ Property Program: A Community-Driven Approach, will be administered by LISC Detroit in partnership with FHLBank Indianapolis, following a $500,000 grant investment provided by the Bank.   

This announcement follows the February 2024 report published by Detroit Future City, which found that at least 5,525 likely existing heirs’ properties — in which all recorded owners from the tax assessor records are deceased — in the city of Detroit. Combined, these properties represent about $268 million in potential household wealth loss without intervention. 

The Detroit Heirs’ Property program will take a holistic approach to resolving current heirs’ property issues while working to mitigate and prevent future challenges facing Detroit residents. The program will focus on three core areas: coalition building, providing outreach and legal services on a neighborhood level, and long-term planning for citywide education and engagement. 

Coalition-building efforts will focus on system and policy change as well as engaging community development corporations (CDCs) who are supporting residents with heirs’ property issues. LISC Detroit also will work directly with CDCs in target neighborhoods to saturate the community with awareness and deliver connections to legal services.  

Cindy Konich, President and CEO of FHLBank Indianapolis, said: “We know what the research says — that heirs’ property issues are a significant driver of wealth loss in already vulnerable communities. That’s why FHLBank Indianapolis is proud to partner with LISC Detroit to deliver evidence-based, targeted solutions that will promote meaningful support to Detroit households.” 

Click here to read the Bank’s news release. 

Questions? Contact Corporate Communications at corpcomm@fhlbi.com.

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