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Yes. Anyone can walk away from a property they own. The smarter idea is to put the parcel on the market with a note indicating the house is unlivable. +5
If they have the money they can rent an apartment. They are still responsible for the property they own. They have to pay the taxes and keep it in a condition within the laws of the jurisdiction in which it sits. They can put it on the market it they no longer want it. That's better than abandoning it and letting the state eventually take possession of it -- they will do that and it will be auctioned. If they just abandon it and someone (children) go onto the property and get hurt your inlaws will be liable. In my opinion they should sell it if they cannot live in it.
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