How does the court decide what share of the sale proceeds my spouse gets if they aren’t on the deed but claim an equitable interest? nc

How does the court decide what share of the sale proceeds my spouse gets if they aren’t on the deed but claim an equitable interest? – North Carolina Short Answer In North Carolina, a spouse who is not on the deed usually does not automatically receive a share of sale proceeds in a partition sale,…

If the house is at risk of foreclosure because bills weren’t paid, how does that affect my share and the estate’s assets? nc

If the house is at risk of foreclosure because bills weren’t paid, how does that affect my share and the estate’s assets? – North Carolina Short Answer In North Carolina, a foreclosure risk usually means the mortgage (and sometimes taxes or other liens) gets paid before any co-owner or estate receives sale proceeds. That can…

Can I file a partition action to force the sale of a co-owned house even if there is a tenant living there under an active lease? nc

Can I file a partition action to force the sale of a co-owned house even if there is a tenant living there under an active lease? – North Carolina Short Answer Yes. In North Carolina, a co-owner can file a partition proceeding in Superior Court to end co-ownership, even if the property is currently rented…

If the property is behind on the mortgage and heading toward foreclosure, what options do we have to avoid losing it while the ownership dispute is ongoing? nc

If the property is behind on the mortgage and heading toward foreclosure, what options do we have to avoid losing it while the ownership dispute is ongoing? – North Carolina Short Answer In North Carolina, the main ways to avoid losing a co-owned property to foreclosure during an ownership dispute are (1) quickly bringing the…

If some owners want to fire the property manager but another owner doesn’t, is the property management contract still valid and enforceable? nc

If some owners want to fire the property manager but another owner doesn’t, is the property management contract still valid and enforceable? – North Carolina Short Answer In North Carolina, a property management contract is generally enforceable according to its terms unless the owners who signed it had authority to bind the other co-owners (or…