How do creditor claims (like a second mortgage or loan) affect what heirs receive from the estate, and what if the lender files late or doesn’t file? NC

How do creditor claims (like a second mortgage or loan) affect what heirs receive from the estate, and what if the lender files late or doesn’t file? – North Carolina Short Answer In North Carolina, heirs generally receive what is left after the personal representative gathers estate assets and pays valid debts and expenses in…

If a beneficiary wants to keep the inherited house, do they have to refinance the mortgage into their name, and what happens if they can’t? NC

If a beneficiary wants to keep the inherited house, do they have to refinance the mortgage into their name, and what happens if they can’t? – North Carolina Short Answer In North Carolina, a beneficiary usually can inherit a house that still has a mortgage without immediately refinancing it into their own name. The home…

Can appraisal costs paid by one heir be reimbursed from both heirs’ shares, and how is that shown on the final accounting? NC

Can appraisal costs paid by one heir be reimbursed from both heirs’ shares, and how is that shown on the final accounting? – North Carolina Short Answer Often, yes—if the appraisal was an estate-related cost that benefited the estate or was needed for administration, the personal representative can usually treat it as an administration expense…

What are the risks if the property remains occupied without formal permission during probate? – NC

What are the risks if the property remains occupied without formal permission during probate? – North Carolina Short Answer In North Carolina probate, an occupied estate property without clear, written authority can create legal and financial problems for the estate and the people living there. Common risks include delay in selling or securing the property,…

How fast can estate sale proceeds be released to me after closing, and can I request a wire instead of a check to meet a rental deadline? NC

How fast can estate sale proceeds be released to me after closing, and can I request a wire instead of a check to meet a rental deadline? – North Carolina Short Answer In North Carolina, estate sale proceeds usually cannot be distributed immediately after a real estate closing because the personal representative often must wait…

How can I handle an auto insurance claim when the policyholder has died and the insurer wants to speak with the estate? NC

How can I handle an auto insurance claim when the policyholder has died and the insurer wants to speak with the estate? – North Carolina Short Answer In North Carolina, the person who can usually speak for a deceased policyholder’s “estate” is the court-appointed personal representative (executor or administrator) who has qualified through the Clerk…