Putting Homeownership Preservation on Philanthropy's Agenda

For many families, owning a home is not only a source of pride but also the foundation of financial stability and opportunity that can be passed down through generations. Unfortunately, discriminatory systems and predatory actors often prevent heirs from maintaining and building upon these hard-fought gains. This loss can devastate families and disproportionately holds Black and Brown families back from financial growth over generations. It may also help explain why the homeownership gap between Black and white Americans has barely changed at all since 1960.

Philanthropy has long prioritized programs to increase new homeownership, but this is only part of the equation. To help families build wealth and protect hard-fought gains over generations, funders should also prioritize homeownership preservation. Maintaining and passing down property as an asset to loved ones is an important aspect of intergenerational wealth. Among the challenges to homeownership preservation efforts, however, is a complicated legal landmine known as “tangled titles,” commonly referred to as “heirs' property.” Tangled titles disproportionately affect Black and Brown families due to inequitable access to legal services and persistent discrimination that has broken many families’ trust in the systems governing property ownership.

The above is an excerpt of a piece originally published in the Stanford Social Innovation Review.