Center Launches Heirs Property Protection Program to Preserve Generational Wealth

FOR IMMEDIATE RELEASE: Wednesday July 8, 2026

Contacts: Miranda Hall, cnycn@berlinrosen.com

With Support from the Wells Fargo Foundation, the Center for NYC Neighborhoods Launches Initiative to Help Preserve Generational Wealth Across New York

Innovative financing model will help New Yorkers address heirs’ property issues

Congress Member Meeks celebrated this new program and urged a continued focus on protecting New York City’s outerborough homeowners

NEW YORK, NY –  The Center for NYC Neighborhoods (CNYCN or the Center) today announced the launch of the Heirs Property Protection Program (HP3), a first-of-its-kind initiative supported by the Wells Fargo Foundation, to help New Yorkers resolve heirs’ property issues, preserve generational wealth, and remain in their homes and communities.

The launch follows new research from the Center that suggests heirs’ property issues have significant impact on displacement in New York City, with heirs’ property disputes estimated to put up to $4B in wealth at risk each year. Heirs’ property occurs when a home is inherited without a clear legal transfer of ownership, often leaving multiple heirs with fractional interests in a property. Tangled title often prevents heirs from refinancing mortgages, accessing home repair financing or disaster assistance, or fully benefiting from the equity they have built over generations. In many cases, they also leave homeowners vulnerable to predatory investors and forced partition sales.

The Center’s HP3 initiative will introduce loan products for heirs’ property owners that are financed through a revolving loan fund, allowing repaid capital to be redeployed to future borrowers. These financial tools are specifically designed for an underserved population often excluded from traditional lending.

“Homes can be a core source of stability and opportunity. For too many New Yorkers, heirs’ property issues turn housing stability into uncertainty,” said Christie Peale, CEO and Executive Director of the Center for NYC Neighborhoods. “HP3 offers a practical solution that helps heirs preserve their homes, build lasting financial stability, and stay in their neighborhoods that give them community and meaning. We are proud to launch this effort alongside Wells Fargo and are grateful for Congressman Meeks’ support in advancing conversations around equitable pathways to homeownership and wealth preservation.”

“HP3 is an innovative approach to help families protect their homes and resolve tangled title issues,” said Sarah Bainton Kahn, Head of Housing Access and Affordability Philanthropy at Wells Fargo. “Through the Wells Fargo Foundation’s support of the Center for NYC Neighborhoods, we’re helping expand access to the tools and capital families need to preserve generational wealth, strengthen communities and create a model that can be scaled across New York. ”

U.S. Representative Gregory Meeks joined the partners at an event in Queens to celebrate the new loan program, and highlight efforts in D.C. to advocate for support for affordable homeownership.

“Homeownership remains one of the most powerful pathways to building generational wealth, but too many New Yorkers face legal and financial barriers that put that opportunity at risk,” said Congressman Gregory Meeks. “The HP3 Program is about giving families the tools and support they need to keep their homes and pass them on to future generations. I applaud the Center for NYC Neighborhoods and Wells Fargo for coming together on this innovative effort to protect homeownership, preserve generational wealth, and strengthen communities across New York.”

The program builds on the Center’s growing leadership in heirs’ property policy and homeowner protection and is intended to serve as a scalable model for addressing a longstanding gap in housing and financial systems. Based on case analyses conducted by the Center, every dollar lent to resolve an heirs’ property issue is estimated to preserve between $13 and $15 in wealth, demonstrating the outsized impact of targeted investments in title resolution and home preservation.

Impacts of heirs’ property fall disproportionately on historically underserved communities and neighborhoods experiencing rising property values. While recent legislative reforms have strengthened protections against predatory partition sales, many heirs continue to lack access to the financing needed to resolve title issues and secure ownership.

The Center is seeking to build HP3 into a statewide initiative through additional investments from government agencies, philanthropic organizations, and private-sector partners. Together, we can protect this $4B in wealth at risk of being lost.

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About the Center for NYC Neighborhoods

Founded in 2008, the Center promotes and protects affordable homeownership so that all New Yorkers can build strong, thriving communities. With more than 18 years of experience, the Center’s work spans direct services, network coordination, and systems-level intervention. It coordinates a citywide network of housing counseling and legal services providers, operates a statewide Homeowner Hub call center, and co-administers approximately $40 million annually in state funding that supports homeowner services statewide. The Center’s mission-driven CDFI, Sustainable Neighborhoods, lends approximately $7 million annually and held approximately $100 million in net assets as of December 2025. The Center’s work is grounded in collaboration with community-based partners, public agencies, philanthropy, and national leaders in heirs’ property and housing preservation. Through these partnerships, the Center continues to develop scalable, practical solutions that preserve homeownership, stabilize communities, and expand access to economic opportunity.