If my former partner buys out my interest, how is the buyout price determined?: Answered for North Carolina Partition Actions

If my former partner buys out my interest, how is the buyout price determined? – North Carolina Short Answer In North Carolina, co-owners usually set a buyout price by starting with the home’s current fair market value (often via an independent appraisal), then applying credits and debits for things like taxes, insurance, necessary repairs, improvements,…

Can I get reimbursed for the renovation labor and supplies I contributed under a partition action?: North Carolina

Can I get reimbursed for the renovation labor and supplies I contributed under a partition action? – North Carolina Short Answer Under North Carolina partition law, a co-owner can usually receive credits for necessary carrying costs (like taxes and insurance) and for permanent improvements, but the credit for improvements is based on the value they…

What steps do I take to confirm the accurate boundaries before selling co-owned property?: North Carolina partition sales

What steps do I take to confirm the accurate boundaries before selling co-owned property? – North Carolina Short Answer In North Carolina partition cases, confirm the legal description before any court-ordered sale by fixing the record first. Move to amend the petition and proposed order to use the correct metes-and-bounds, obtain a survey and plat…

Can I switch from a partition action to a quiet title lawsuit if a deed discrepancy stalls the sale?: Clear next steps for North Carolina co-owners

Can I switch from a partition action to a quiet title lawsuit if a deed discrepancy stalls the sale? – North Carolina Short Answer Yes. In North Carolina, if a partition sale is stalled by a disputed or defective legal description, you can either (1) amend the partition case and ask the Clerk to order…