What options do co-heirs in North Carolina have to resolve a property dispute when a co-owner demands buy-out or division?

What options do co-heirs in North Carolina have to resolve a property dispute when a co-owner demands buy-out or division? Detailed Answer When multiple heirs inherit real estate in North Carolina, they often become tenants in common. Each heir owns an undivided share of the whole property. If one co-owner demands a buy-out or physical…

How can I claim a State of North Carolina decedent’s uncollected retirement account when they died intestate?

How to Claim a State of North Carolina Decedent’s Uncollected Retirement Account When They Died Intestate 1. Detailed Answer When someone in North Carolina dies without a will (intestate), any retirement accounts they left behind and did not collect become part of their estate if they lack a valid beneficiary designation. To claim those funds,…

How do I access frozen assets and start probate when no personal administrator has been appointed?

How to Access Frozen Assets and Start Probate When No Personal Administrator Has Been App1ointed Detailed Answer When someone dies, banks and brokerage firms often freeze accounts. No one may withdraw or transfer funds without court authorization. In North Carolina, you must appoint a personal representative before you can unfreeze and use those assets. This…

What legal steps can heirs take to address an executor’s mismanagement during North Carolina probate?

What legal steps can heirs take to address an executor’s mismanagement during North Carolina probate? Detailed Answer Heirs rely on an executor to protect and manage estate assets. Under North Carolina law, an executor must gather assets, pay valid debts, and distribute property according to the will. See N.C. Gen. Stat. § 28A-16-1 for executor…

How can North Carolina beneficiaries contest discrepancies like misallocations or double charges in probate asset distributions?

How can North Carolina beneficiaries contest discrepancies like misallocations or double charges in probate asset distributions? Detailed Answer When someone dies in North Carolina with assets to distribute, the personal representative (sometimes called the executor) collects assets, pays debts, and distributes what remains to the beneficiaries. The representative must prepare an inventory, appraisement, and account…