Partition Action Q&A Series

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Can a co-owner enforce repayment of a private loan with interest from the property sale proceeds?: North Carolina

Can a co-owner enforce repayment of a private loan with interest from the property sale proceeds? – North Carolina Short Answer Often yes for the principal, but interest depends on your paperwork. In a North Carolina partition case, the Clerk of Superior Court can adjust sale proceeds to reimburse a co-owner for money actually paid…

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What steps do I need to prepare a written agreement dividing net sale proceeds among co-owners?: North Carolina

What steps do I need to prepare a written agreement dividing net sale proceeds among co-owners? – North Carolina Short Answer In North Carolina, co-owners in a pending partition case can settle by a written agreement that sets a clear “waterfall” for net sale proceeds and dismisses the case. Define net proceeds (price minus approved…

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What’s the process to buy out a co-owner’s interest and refinance the mortgage solely in my name?: North Carolina

What’s the process to buy out a co-owner’s interest and refinance the mortgage solely in my name? – North Carolina Short Answer In North Carolina, you can buy out a co-owner by agreement or, if you cannot agree, through a partition special proceeding before the Clerk of Superior Court. The buyout amount usually reflects each…

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Can I challenge the former spouse’s sale of their share if I received no notice of the transaction?: North Carolina Partition Action

Can I challenge the former spouse’s sale of their share if I received no notice of the transaction? – North Carolina Short Answer Under North Carolina law, a co-owner (tenant in common) can sell their undivided share without notifying the other owners. Lack of notice alone does not void the deed. The buyer simply steps…

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Can an upset bidder choose a different title attorney after the initial sale is confirmed?: North Carolina Partition Action

Can an upset bidder choose a different title attorney after the initial sale is confirmed? – North Carolina Short Answer Usually yes for title review, but not if it conflicts with the court’s orders. In a North Carolina judicial partition sale, the buyer may hire their own North Carolina lawyer to examine title. However, the…

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How can I find out the outstanding mortgage balance when the servicer won’t share details?: North Carolina

How can I find out the outstanding mortgage balance when the servicer won’t share details? – North Carolina Short Answer In North Carolina, heirs who inherit real estate take it subject to any existing mortgage, and lenders usually will not discuss payoff figures without proper authority. You can get that authority by having a personal…

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What steps can I take to access estate funds held for necessary property repairs?: North Carolina Partition Action

What steps can I take to access estate funds held for necessary property repairs? – North Carolina Short Answer In North Carolina, the personal representative (executor or administrator) must preserve estate assets but typically needs either will authority or a court order before spending estate funds on real property repairs. If repairs are necessary to…

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Attorney Jared Pierce
Attorney Jared Pierce
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