Mr. Myers brings up an excellent point regarding capital gains on sale of the house. If the house is still deemed your grandmother's residence and she lived there in 2 of the last 5 years, you can only exclude $250,000 on the sale. If the unrealized gain is greater than that, waiting until death may be prudent as the basis will step up to fair market value. I was too focused on your actual question to add the value the Mr. Myers did in his response. He has my vote for best answer.