Funds Will Be Used to Resolve Heirs’ Property Issues

The Federal Home Loan Bank of Dallas (FHLB Dallas), through its member Community Bank, awarded a $100,000 Heirs’ Property Program grant to North Mississippi Rural Legal Services (NMRLS) in a ceremonial check presentation. The funds will be used to resolve heirs’ property issues and clear titles to homes in North Mississippi.

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Representatives of FHLB Dallas, Community Bank and North Mississippi Rural Legal Services celebrate a $100,000 Heirs’ Property Program grant. (Photo: Business Wire)

North Mississippi was hard hit from a March 24, 2023, EF-4 tornado. More than 1,500 homes and businesses were damaged or destroyed, and homes without a clear title could encounter challenges in obtaining insurance proceeds or other financial aid to repair or rebuild their homes.

“This funding will provide much-needed legal assistance and resources to help families move forward to rebuild their lives,” said Ben Cole, executive director at NMRLS.

Heirs’ property refers to property inherited without a will or legal documentation of ownership. As property is passed down, each successive generation typically results in more heirs being added to the inheritance. The absence of a deed or will can make it more complicated to obtain a clear title to land or homes as time passes.

“With this support, individuals can now clear titles to their homes at no cost, enabling them to begin the process of rebuilding,” said Kevin McCartney, president of the Amory Division of Community Bank. “We believe this program will have a positive impact on the future of our community, offering families the chance to regain stability and hope.”

In 2024, FHLB Dallas and 20 participating members awarded $2 million in Heirs’ Property Program grants to 33 organizations in its five-state District. The funding will help clear an estimated 560 titles and assist more than 5,670 people with training and education regarding heirs’ issues.

“We are pleased to be able to help those affected by the 2023 tornado, as well as families struggling with heirs’ issues,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “The Heirs’ Property Program has garnered a lot of interest because of the immense good it can do in communities.”

Learn more about the FHLB Dallas Heirs’ Property Program.

About Community Bank

Community Bank, formerly Farmers and Merchants Bank, is one of the fastest-growing financial institutions in the South. Despite our growth, Community Bank is not the product of big business or a large, metropolitan area. Instead, more than one hundred years ago, we chose a small timber community in east central Mississippi to first plant our roots. Today, Community Bank has grown from $200 million in assets and a couple of offices to more than $4.8 billion in assets, 55 offices, and over 875 staff owners in four states.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $129.4 billion as of September 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.

Corporate Communications Federal Home Loan Bank of Dallas fhlb.com, (214) 441-8445