After we pick a partition hearing date, what notices or filings do we need to complete to confirm it and notify the other co-owners? NC

After we pick a partition hearing date, what notices or filings do we need to complete to confirm it and notify the other co-owners? – North Carolina Short Answer In North Carolina, a partition case is a special proceeding handled through the Clerk of Superior Court. After selecting a hearing date, the usual next step…

What family-relationship information do you need from a client to complete the partition petition?

What family-relationship information do you need from a client to complete the partition petition? – North Carolina Short Answer In a North Carolina partition case, the petition must name and join all current co-owners, and sometimes other people whose ownership rights flow through family relationships. To draft the petition correctly, the firm typically needs a…

How is the property’s value used to decide a buyout amount or a sale price in a partition settlement? NC

How is the property’s value used to decide a buyout amount or a sale price in a partition settlement? – North Carolina Short Answer In a North Carolina partition settlement, the property’s value is used as the starting point to calculate each co-owner’s share based on that co-owner’s ownership percentage. For a buyout, the usual…