If the other co-owner claims certain household items or appliances, is that handled separately from the home buyout amount, and should we require a written list before closing? NC

Partition Action Q&A Series

If the other co-owner claims certain household items or appliances, is that handled separately from the home buyout amount, and should we require a written list before closing? – North Carolina Short Answer Usually, yes. In North Carolina, a home buyout resolves ownership and value of the real estate, while household items and appliances are…

What happens if property taxes on an inherited home aren’t paid—can the property be taken in a tax foreclosure, and do heirs have any chance to redeem it? NC

Partition Action Q&A Series

What happens if property taxes on an inherited home aren’t paid—can the property be taken in a tax foreclosure, and do heirs have any chance to redeem it? – North Carolina Short Answer In North Carolina, unpaid property taxes become a lien on the home, and the county (and other taxing units) can enforce that…

How can I finalize a buyout or refinance agreement when a co-owner keeps changing their mind right before closing? NC

Partition Action Q&A Series

How can I finalize a buyout or refinance agreement when a co-owner keeps changing their mind right before closing? – North Carolina Short Answer In North Carolina, the most reliable way to finalize a co-owner buyout tied to a refinance is to reduce the deal to a signed, written settlement agreement with clear deadlines, a…

How do we handle indemnification in an agreement so one side isn’t stuck paying claims after the transfer? NC

Partition Action Q&A Series

How do we handle indemnification in an agreement so one side isn’t stuck paying claims after the transfer? – North Carolina Short Answer In North Carolina, the cleanest way to avoid one co-owner being stuck with post-transfer claims is to pair a narrowly written indemnification clause with a clear “cutoff” date, a defined list of…