How to Prepare a Jointly Owned Property for Sale Before a Foreclosure Hearing in North Carolina

Detailed Answer: Preparing Jointly Owned North Carolina Property for Sale Before a Foreclosure Hearing When co-owners fall behind on a deed-of-trust loan, the lender may file a power-of-sale foreclosure and schedule a hearing under N.C. Gen. Stat. § 45-21.16. A voluntary sale before that date can generate enough cash to pay the arrears, satisfy the mortgage,…

How to Coordinate Realtor Selection With a Co-Owner for a Joint Property Sale in North Carolina

How to Coordinate Realtor Selection With a Co-Owner for a Joint Property Sale in North Carolina Detailed Answer North Carolina treats most jointly owned real estate as tenancy in common. Each co-owner controls his or her share, yet major steps—such as hiring a real-estate broker—require everyone’s signature. Below are practical and legal options for selecting…

How to Calculate and Recover Carrying Costs from a Co-Owner in a Joint Sale Agreement?

North Carolina Guide: Recovering Carrying Costs from a Co-Owner During a Joint Sale What Are “Carrying Costs”? Carrying costs are the ongoing bills necessary to keep real estate in good standing. Typical items include: Property taxes Mortgage interest and principal Homeowners’ insurance Basic repairs and utilities (maintenance that preserves, not improves, the property) Step-by-Step: Calculating Each…

May I petition a court to remove an estate administrator who refuses to fulfill their duties in North Carolina?

May I petition a court to remove an estate administrator who refuses to fulfill their duties in North Carolina? Detailed Answer Yes. Under North Carolina law, any interested person — such as an heir, devisee, creditor, or co-personal representative — may ask the clerk of superior court to remove an estate’s administrator when the administrator fails to…