How can I sell a deceased parent’s cars for fair market value and use the proceeds to pay estate debts without breaching my fiduciary duties? nc

How can I sell a deceased parent’s cars for fair market value and use the proceeds to pay estate debts without breaching my fiduciary duties? – North Carolina Short Answer In North Carolina, the personal representative (executor/administrator) generally has authority to sell a decedent’s personal property, including vehicles, to raise cash to pay valid estate…

How do I challenge the property value used in an estate settlement—do we need an appraisal or broker price opinion? nc

How do I challenge the property value used in an estate settlement—do we need an appraisal or broker price opinion? – North Carolina Short Answer In North Carolina, a settlement tied to a deceased person’s real estate interest is usually negotiated around fair market value (what a willing buyer would pay a willing seller), not…

How do creditor priority rules work when there are both mortgage-related claims and wage-related claims against an estate? nc

How do creditor priority rules work when there are both mortgage-related claims and wage-related claims against an estate? – North Carolina Short Answer In North Carolina, a valid mortgage or deed of trust is generally treated as a secured claim that gets paid from its collateral first (the specific property or its sale proceeds), before…