How can I submit a bid during a court-ordered partition sale with a standard bidding window? NC

How can I submit a bid during a court-ordered partition sale with a standard bidding window? – North Carolina Short Answer In North Carolina partition sales, bidding commonly happens in two stages: (1) the initial sale (often an auction) conducted under court supervision, and then (2) a “standard” 10-day upset-bid window after the sale report…

What happens if I can’t locate or contact my siblings who are co-owners—can the court approve a sale without their signatures? NC

What happens if I can’t locate or contact my siblings who are co-owners—can the court approve a sale without their signatures? – North Carolina Short Answer Yes. In North Carolina, a co-owner who wants to sell jointly owned real estate can ask the court for a partition, including a court-ordered sale, even if other co-owners…

Is a comparative market analysis enough to set a fair listing price between co-owners, or do we need a formal appraisal? NC

Is a comparative market analysis enough to set a fair listing price between co-owners, or do we need a formal appraisal? – North Carolina Short Answer In North Carolina, a comparative market analysis (CMA) can be enough to agree on a practical listing price when co-owners are cooperating and neither side plans to challenge value.…

If someone else (like a relative) paid certain property bills, can the co-owner still demand reimbursement from the sale proceeds? NC

If someone else (like a relative) paid certain property bills, can the co-owner still demand reimbursement from the sale proceeds? – North Carolina Short Answer Sometimes. In a North Carolina partition (including a partition sale), a co-owner can ask the court to credit certain “carrying costs” and other protected payments against the sale proceeds, but…

What happens if the deceased co‑owner passed within the standard creditor claim period and there is no personal representative to sign closing documents? NC

What happens if the deceased co‑owner passed within the standard creditor claim period and there is no personal representative to sign closing documents? – North Carolina Short Answer In a North Carolina partition sale, the closing usually does not depend on a deceased co-owner’s heirs signing a deed. Instead, after the clerk of superior court…

What happens to a deceased siblings share if they died without a willdoes the surviving spouse or the children inherit it? NC

What happens to a deceased siblings share if they died without a willdoes the surviving spouse or the children inherit it? – North Carolina Short Answer In North Carolina, when a sibling who owned an inherited share of real estate dies without a will, that siblings surviving spouse and children generally split the siblings share…