Why would an insurance proceeds check for a co-owned house be made payable to multiple people and the mortgage company, and who has to endorse it? – North Carolina Short Answer In North Carolina, an insurance company often makes a property-damage proceeds check payable to all owners and the mortgage (or deed of trust) lender…
If a relative has been selling pieces of family land for years, can the other heirs recover their share before the remaining land is sold? – North Carolina Short Answer Sometimes. In North Carolina, other heirs or co-owners may be able to pursue a claim to recover their share if a relative sold family land…
If there is a will or an old estate file for the original owners that we have never seen, how does that affect who actually owns the property in a partition case? – North Carolina Short Answer In North Carolina, a partition case assumes the parties are co-owners, but an older will or estate file…
Can a settlement include a set-aside fund to cover property-related claims and let any unused amount go back to the owner who keeps the home? – North Carolina Short Answer Yes. In North Carolina, co-owners resolving a partition dispute can agree in a written settlement to set aside a fixed reserve to cover defined property-related…
If the property sells for less than what one co-owner says they’re owed, can that co-owner sue the rest of us personally for the difference? – North Carolina Short Answer Usually not in a standard North Carolina partition case. A co-owner’s claim to be repaid for money they advanced toward the property is typically handled…
Do we need to file a partition case to force a sale, or can we handle the sale with a written family agreement instead? – North Carolina Short Answer In North Carolina, a written family agreement can handle a sale only if all true owners agree and can deliver clear title to a buyer. If…
How is a buyout amount calculated when there’s still a mortgage on the house and I’ve paid money into repairs or expenses? – North Carolina Short Answer In North Carolina, a buyout in a co-owned home usually starts with the home’s fair market value, then subtracts valid liens like the mortgage to get the equity.…
What happens if one co-owner refuses to cooperate or won’t sign from out of state? – North Carolina Short Answer In North Carolina, one co-owner’s refusal to cooperate or sign documents does not necessarily stop a partition case. A co-owner who wants to end shared ownership can file a partition proceeding in Superior Court and…
How do we confirm whether there was a valid will and how it affects who owns what share of the property? – North Carolina Short Answer In North Carolina, the usual way to confirm whether there was a valid will is to check the county estate records where the person lived at death to see…
What happens in a partition case if there are homes on the land or there might be a mortgage or other liens? – North Carolina Short Answer In North Carolina, a partition case can still move forward even if there are homes on the land and even if there is a mortgage or other liens.…
