A small but growing number of heirs are rejecting homes that were bequeathed by their relatives, in part because the housing slump has left some properties worth less than the amount that’s owed to the bank.

Q: A few months ago, you wrote that a daughter had the right to continue living in the home that her late mother had left her in her will and also to keep her mom’s low-rate mortgage, as long as the daughter made all the payments to the bank on time. I am in a different situation: My dad died in October from cancer and left me a house valued at about $150,000, but he owed close to $225,000 on the property because he had borrowed against the home to pay for his medical bills. Now prices for the homes in his neighborhood have dropped. I don’t want the house (or to take over the loan) because the property is worth about $75,000 less than my father owed on the mortgage. Is it possible to reject a property that is left to you in a will, or must I be stuck paying the mortgage bill because Dad gave the home to me?

A: Don’t worry, you should be fine. Federal law, as well as additional laws in each of the 50 states, allows you to “disclaim” an inheritance. This generally means that you aren’t responsible for paying back the debts of the person who left you the property, provided that you did not also co-sign for their mortgage or other loans.

A small but growing number of heirs are rejecting homes that were bequeathed by their relatives, in part because the housing slump has left some properties worth less than the amount that’s owed to the bank. But others say “no thanks” for other reasons, especially if the home is in dire need of costly repairs.

Your letter states that your father bequeathed his house to you in his will. That means that just about everything he owned likely will be going to probate court, and his assets (from the house or a stock-brokerage account he might have had, to his car in the garage) can be sold to pay off his creditors first.

Any money that might be left over, after all the mortgages and other debts are paid, would be forwarded to you and any other heirs that your dad had named. Contact the lawyer who prepared the will or the executor of the estate for more details.