Do I need a death certificate to start a partition action? – North Carolina Short Answer No. North Carolina law does not require a death certificate to file a partition action. You must file a verified petition with the Clerk of Superior Court identifying the co-owners and the land. But if your ownership depends on…
Can attorney fees be deducted from the sale proceeds in a partition action? – North Carolina Short Answer Yes—under North Carolina law, the Clerk of Superior Court (or a judge, if transferred) may tax reasonable attorney fees as costs in a partition case and order them paid from the sale proceeds, usually when the legal…
Can I recover the bills I’ve covered from the proceeds when the house sells? – North Carolina Short Answer Yes—under North Carolina partition law, a co-owner who pays necessary carrying costs like property taxes, insurance, mortgage interest, HOA dues, and essential repairs can usually receive a credit before the sale proceeds are split. The Clerk…
How can I ensure I get a fair buyout price for my share of our co-owned property at mediation? – North Carolina Short Answer In North Carolina, start with a credible, current appraisal and a clear accounting of each co-owner’s contributions and offsets. Use mediation to convert that valuation into a written, signed buyout agreement…
Am I responsible for any tax liabilities or fines from years I didn’t file because of this unauthorized partnership? – North Carolina Short Answer Not automatically. In North Carolina, you generally owe tax and penalties only on income that is truly yours. Being listed as a “partner” without your consent does not by itself create…
What terms can I negotiate to stay in or vacate the apartment after I sell my interest to the co-owner? – North Carolina Short Answer In North Carolina, you can negotiate a written “move-out” or “rent-back” agreement as part of your partition settlement and buyout. Typical terms cover a fixed move-out date, short-term occupancy (with…
What happens to my share of rental income and property taxes when my interest is sold in a partition action? – North Carolina Short Answer In a North Carolina partition sale, the Clerk of Superior Court adjusts each co-owner’s share of the sale proceeds for money received and money paid. Rents collected are credited to…
Can I remove myself from a business partnership created without my consent on my co-owner’s tax returns? – North Carolina Short Answer Yes. In North Carolina, a partnership cannot be created just because someone lists you as a partner on a tax return. If you never agreed to carry on a business as co-owners for…
What steps do I need to take to correct a service error and refile a partition by sale petition? – North Carolina Short Answer In North Carolina, a partition by sale is a special proceeding before the Clerk of Superior Court and every co‑owner must be properly served under Rule 4 of the Rules of…
What effect does a limited occupancy clause in a will have on a partition sale? – North Carolina Short Answer In North Carolina, a will can grant someone a temporary right to live in a property (for a set time or for life). If that right is still in effect, a partition case cannot cut…