If I settle instead of continuing the partition, how is my share calculated when the home’s interior condition is unknown? – North Carolina Short Answer In a North Carolina partition case resolved by settlement, a cotenant’s share is generally based on (1) that cotenant’s legal ownership percentage and (2) an agreed fair market value for…
How can I get a reliable market value for a co-owned house when I can’t get inside because occupants or co-owners won’t allow access? – North Carolina Short Answer In a North Carolina partition case, a reliable market value can still be developed for a co-owned house without interior access by using an exterior inspection,…
Do I have to agree or sign anything for the sale to proceed, and what happens if I don’t? – North Carolina Short Answer In a North Carolina partition sale, a co-owner’s signature or agreement is generally not required for the court-ordered sale to go forward once the clerk has ordered a sale and appointed…
How can I calculate what each person will receive when a life estate and remainder interests are involved in a partition sale? – North Carolina Short Answer In a North Carolina partition sale involving a life estate and remaindermen, the court first orders the property sold and pays closing costs, court costs, commissioner fees, and…
Does the power of attorney for the life tenant control that share, and what protections exist if they misuse the funds? – North Carolina Short Answer In a North Carolina partition sale, the life tenant is entitled to the value of the life estate share, and a valid power of attorney generally allows the agent…
How can I sell a jointly owned home when the other owner insists on an equal split even though I paid the entire down payment and loan? – North Carolina Short Answer In North Carolina, co-owners generally share sale proceeds based on the ownership listed in the deed, but a cotenant who has paid the…
Does having the mortgage only in my name change how equity is split if both of us are on title? – North Carolina Short Answer In North Carolina, if both co-owners are on the deed, the starting point is that equity is shared according to the ownership stated on title, not whose name is on…
If the other owner refuses to cooperate with listing or closing, what are my options? – North Carolina Short Answer Under North Carolina law, a co-owner who wants to sell is not stuck just because another co-owner refuses to list or close. A co-owner may file a partition action in superior court asking the court…
If both of our names are on the deed but only I paid for the property, can a court award me a larger share or reimburse the down payment? – North Carolina Short Answer Under North Carolina law, when both parties are on the deed, each normally owns an equal share of the property. However,…
If the deed lists only my partner but I funded the purchase, do I still have ownership or repayment rights when the home is sold? – North Carolina Short Answer Under North Carolina law, legal ownership usually follows the name on the deed, but courts can sometimes recognize financial or equitable rights for a non-titled…