Do I need to do anything to notify creditors or handle my spouse’s credit report after they pass away? nc

Do I need to do anything to notify creditors or handle my spouse’s credit report after they pass away? – North Carolina Short Answer In North Carolina, creditor notice is usually handled through the estate process, but only if someone opens an estate (or uses an approved “notice without administration” procedure). If most property passes…

When the surviving spouse claims a vehicle as an allowance or exempt property, who has the right to the title and the income from that vehicle before the title is updated? nc

When the surviving spouse claims a vehicle as an allowance or exempt property, who has the right to the title and the income from that vehicle before the title is updated? – North Carolina Short Answer In North Carolina, once the Clerk of Superior Court awards a vehicle to the surviving spouse as part of…

Can creditors reach my inherited interest in family land that is co-owned with other relatives, and how is that interest calculated? nc

Can creditors reach my inherited interest in family land that is co-owned with other relatives, and how is that interest calculated? – North Carolina Short Answer In North Carolina, creditors can often reach an heir’s inherited interest in family land, but they generally can only reach that heir’s share—not the other co-owners’ shares. In probate,…

What documents does a timeshare company usually require to update an account when the owner has died? nc

What documents does a timeshare company usually require to update an account when the owner has died? – North Carolina Short Answer In North Carolina, a timeshare company usually asks for (1) proof of death (often a certified death certificate) and (2) proof of legal authority to act for the estate (typically court-issued Letters Testamentary…

Why can’t the property sale close yet if I’m already under contract? nc

Why can’t the property sale close yet if I’m already under contract? – North Carolina Short Answer In North Carolina, being “under contract” does not always mean the estate has legal authority to deliver marketable title at closing. A closing can be delayed if the personal representative (executor/administrator) has not been appointed, if required creditor-notice…

Should the executor file an insolvency petition before talking to a major creditor to avoid making promises about who gets paid first? nc

Should the executor file an insolvency petition before talking to a major creditor to avoid making promises about who gets paid first? – North Carolina Short Answer Usually, no. In North Carolina, a personal representative can (and often should) communicate early with a secured creditor, but should avoid making payment promises because the estate must…