<p>Thinking ahead about completing financial aid forms for our son, and am wondering how to report this.</p>
<p>My husband and his sister inherited their mother's home and are currently trying to rent it out. Since we will have to document the value of any additional property that we own, can we list half of the market value of the house, since he owns it in combination with his sister, or do we have to report the full market value?</p>
<p>Thanks.</p>
<p>You list YOUR share of the value of the asset…so if it’s half…you list half.</p>
<p>Remember too…any rental income will have to be listed as income on your FAFSA too (again, your share).</p>
<p>Thanks. Appreciate your quick response.</p>
<p>Yup…second piece of real estate really hurts for FA consideration. I guess they expect people to sell their inherited real estate(even though it may have been in your family for generations) to pay for college.</p>