How can heirs recover surplus foreclosure sale funds in North Carolina to pay estate debts and probate costs?

Recovering Surplus Foreclosure Sale Funds in North Carolina to Settle Estate Debts 1. Detailed Answer When a foreclosed property in North Carolina sells for more than the mortgage balance and sale costs, the excess proceeds—called surplus funds—remain with the clerk of superior court. If the property belonged to someone who has died, heirs or the…

How can a personal representative confirm if two billing statements from the same medical provider are separate or superseding claims?

How can a personal representative confirm if two billing statements from the same medical provider are separate or superseding claims? Detailed Answer When you serve as a personal representative for an estate in North Carolina, you’ll receive claims from creditors and service providers. Medical providers often send billing statements for care rendered to the decedent.…

How do I appraise farm equipment and vehicles when co-heirs dispute ownership in North Carolina probate?

Detailed Answer Probate in North Carolina requires the personal representative (formerly executor or administrator) to inventory and appraise all estate assets, including farm equipment and vehicles. North Carolina General Statute §28A-15-3 mandates that the representative file an inventory and appraisement within 90 days of appointment. This appraisement must reflect the fair market value of personal…

Which documents should I gather before contacting a North Carolina probate attorney about an estate?

Which documents should I gather before contacting a North Carolina probate attorney about an estate? Understanding Probate Document Requirements When someone passes away in North Carolina, you must open a probate estate to settle debts and distribute assets. Gathering the right paperwork before you meet with a probate attorney can speed up the process and…

How does North Carolina’s special proceeding for selling a decedent’s one-half interest satisfy estate debts and protect minor heirs?

How a North Carolina Special Proceeding for Selling a Decedent’s One-Half Interest Satisfies Estate Debts and Protects Minor Heirs When a decedent leaves real property and one or more heirs are minors, North Carolina law allows a court to order a special proceeding to sell a decedent’s fractional interest. This process ensures estate debts get…

What is the process and associated cost for filing a successor guardianship petition in North Carolina?

What is the process and associated cost for filing a successor guardianship petition in North Carolina? 1. Detailed Answer When a court-appointed guardian for a minor or incapacitated adult can no longer serve—due to death, resignation, or removal—you must file a successor guardianship petition. North Carolina law governs this process under Chapter 35A of the…

Can co-heirs in North Carolina informally reimburse each other for estate expenses without filing a formal petition?

Can co-heirs in North Carolina informally reimburse each other for estate expenses without filing a formal petition? Understanding Informal Reimbursement Among Co-heirs When someone dies without naming an executor or administrator, their heirs become co-heirs to the estate. North Carolina law generally requires a personal representative to handle estate expenses, pay debts, and distribute assets…