Bank / Credit Union

Federal Home Loan Bank of Dallas delivers $1M for heir property issues

August 21, 2023

The Federal Home Loan Bank of Dallas introduced its Heirs' Property Program alongside $1 million for member institutions to help governmental and tribal entities and nonprofits to handle heirs' property issues. This is a situation where someone inherits a property without a will or legal documentation proving ownership, according to a press release.

Organizations can receive up to $75,000 to deal with these issues and up to $25,000 for education. The bank will accept applications from Sept. 5 to 29.

"Heirs property issues disproportionately impact minority communities and low-income groups particularly. Not having a clear title to your property is one of the biggest barriers to improving one's economic position and creating generational wealth," Greg Hettrick, SVP and director of community investment for FHLB Dallas, said in the release. "We encourage initiatives and solutions to tackle this issue and look forward to funding organizations with a track record of remediation and education."