What information do I need to give the clerk to reserve a partition hearing date? – North Carolina Short Answer In North Carolina, the Clerk of Superior Court typically calendars a partition hearing after all respondents are served and the answer period has passed. To reserve a date, provide the file number and case caption,…
How is each co-owner’s equity interest calculated when one has paid more toward the mortgage? – North Carolina Short Answer In North Carolina partition matters, start with each owner’s deeded share, then calculate net equity (fair market value minus liens and sale costs) and adjust for contributions and benefits. A co-owner who paid mortgage principal,…
Can I pay overdue property taxes for the heirs and secure the land purchase? – North Carolina Short Answer In North Carolina, paying someone else’s delinquent property taxes does not create ownership or a lien by itself. Title to an intestate owner’s land vests in the heirs, and a valid sale typically happens either by…
How does intestate succession work for predeceased heirs’ children? – North Carolina Short Answer In North Carolina, when someone dies without a will, the share that a deceased child would have received passes to that child’s descendants by representation (often called per stirpes). Each “branch” gets the deceased child’s share, split equally among descendants of…
How can I clear title to buy land still held in a deceased owner’s name? – North Carolina Short Answer In North Carolina, title to a deceased person’s real estate vests in the heirs or devisees at death. To deliver clear title for a sale, one of three paths usually works: (1) open an estate…
What options exist for challenging a lifetime rights note on the deed? – North Carolina Short Answer In North Carolina, a “lifetime rights” note usually means a life estate or right to occupy. It can be cleared if the life tenant has died (by recording proof of death), limited or interpreted by a court through…
What legal steps are needed to transfer or sell property when a life estate remains in effect? – North Carolina Short Answer In North Carolina, fee simple title cannot be conveyed unless the life tenant and all remaindermen join the deed, or a court authorizes a sale free of the life estate. A remainderman may…
Can I buy out the life tenant’s interest to accelerate the sale of the property? – North Carolina Short Answer Yes. Under North Carolina law, a remainderman and a life tenant can agree to a voluntary buyout of the life estate. Once the remainderman acquires the life tenant’s interest, the interests merge into full ownership,…
How do I determine the value of a life estate interest for an investor offer? – North Carolina Short Answer In North Carolina, the standard way to value a life estate is to use the state’s statutory life expectancy and annuity tables at a 6% rate. Start with the property’s fair market value (minus liens),…
How is my share of the sale proceeds calculated when a co-owner has a life estate? – North Carolina Short Answer In North Carolina, when property subject to a life estate is sold in a partition, the Clerk of Superior Court typically divides the net sale proceeds by converting the life estate to its present…