How can we sell a jointly owned inherited house without going to court if the other co-owner will agree to a settlement? nc

How can we sell a jointly owned inherited house without going to court if the other co-owner will agree to a settlement? – North Carolina Short Answer In North Carolina, co-owners can usually sell an inherited house without court if everyone who holds title signs (1) a written settlement agreement that covers the sale terms…

Can the commissioner turn the sale proceeds over to the court instead of holding the funds, and what are the pros and cons? nc

Can the commissioner turn the sale proceeds over to the court instead of holding the funds, and what are the pros and cons? – North Carolina Short Answer Yes—depending on the court’s order and the circumstances, a commissioner in a North Carolina partition sale can ask the Clerk of Superior Court to have sale proceeds…

If an heir died after the owner died, do that heir’s children inherit that share, and how does the share get divided? nc

If an heir died after the owner died, do that heir’s children inherit that share, and how does the share get divided? – North Carolina Short Answer Usually, yes. In North Carolina intestate cases (no will), an heir’s right to inherit is determined at the original owner’s death, and that heir’s share becomes part of…

If one co-owner is also owed money under a separate loan agreement, does that loan get paid back in full before the sale proceeds are split among the owners? nc

If one co-owner is also owed money under a separate loan agreement, does that loan get paid back in full before the sale proceeds are split among the owners? – North Carolina Short Answer Not automatically. In a North Carolina partition sale, the sale proceeds are typically used to pay sale costs and any valid…

Can I be reimbursed from the estate for cremation and celebration-of-life expenses, and how do unpaid debts and an annuity factor into the estate? nc

Can I be reimbursed from the estate for cremation and celebration-of-life expenses, and how do unpaid debts and an annuity factor into the estate? – North Carolina Short Answer In North Carolina, reasonable cremation and funeral expenses are generally treated as estate obligations, and the person who paid them can usually seek reimbursement by filing…

If the property sells and the loan still isn’t fully repaid, can we sue the borrowers separately for breach of the loan agreement and place a lien on other property? nc

If the property sells and the loan still isn’t fully repaid, can we sue the borrowers separately for breach of the loan agreement and place a lien on other property? – North Carolina Short Answer In North Carolina, if a written loan agreement (or promissory note) creates personal liability and the sale of the house…