After the house sale closes, how does the court decide when and how the sale proceeds get released to each co-owner? nc

After the house sale closes, how does the court decide when and how the sale proceeds get released to each co-owner? – North Carolina Short Answer In a North Carolina partition sale, the sale money is typically held until the court (usually the Clerk of Superior Court) confirms the sale and approves a final accounting.…

Can we request more time in the foreclosure process to complete a private sale, and what should we show to prove we’re actively trying to sell? nc

Can we request more time in the foreclosure process to complete a private sale, and what should we show to prove we’re actively trying to sell? – North Carolina Short Answer Sometimes, yes—but it depends on where the foreclosure is in the North Carolina process and who has authority to delay it. Before the auction,…

What happens if one co-owner has been paying the mortgage, taxes, or repairs during a partition case? nc

What happens if one co-owner has been paying the mortgage, taxes, or repairs during a partition case? – North Carolina Short Answer In North Carolina, a co-owner (cotenant) who has been paying the property’s “carrying costs” during a partition case can ask the court for a credit or reimbursement (called contribution) from the other co-owners.…

Can the court order mediation in a partition case, and what does court-ordered mediation usually cost? nc

Can the court order mediation in a partition case, and what does court-ordered mediation usually cost? – North Carolina Short Answer Yes. In North Carolina, when a partition sale is requested, the court can order the co-owners to attend mediation before deciding whether to order a sale. The mediator’s fee is typically paid by the…