North Carolina Guide: Securing a Formal Property Valuation Before Filing a Partition Action Detailed Answer When co-owners of North Carolina real estate cannot agree on whether to sell or divide the land, one of them may file a partition action under N.C. Gen. Stat. Chapter 46A. Before you start that lawsuit, order a state-certified appraisal. A…
Can an heir receive a default portion of foreclosure surplus funds before completing full heir verification? Detailed Answer When a North Carolina property goes through a foreclosure and the winning bid exceeds the debt and costs, the excess money—known as surplus funds—is paid to the Clerk of Superior Court. The Clerk acts as a stakeholder…
North Carolina Surplus Funds: How to Identify Every Heir and Calculate Their Share Detailed Answer Why “Surplus Funds” Matter When property sells at a North Carolina foreclosure or tax-foreclosure auction for more than the balance owed, the extra money is called surplus funds. The Clerk of Superior Court holds the money until the rightful owners…
Detailed Answer Before you, as personal representative of a North Carolina estate, sign a real-estate listing agreement, confirm that you actually have authority to sell the property. Under N.C. Gen. Stat. § 28A-13-3(a)(4), an executor or administrator may sell real property only if: the will expressly authorizes a sale, or the Clerk of Superior Court…
How to Sell North Carolina Real Estate After a Life Estate Ends Detailed Answer In North Carolina, a life estate lets one person (the life tenant) use property for life, while the remainder beneficiary owns what is left when the life tenant dies. When the life tenant passes away, the life estate terminates automatically and…
How a North Carolina Remainder Beneficiary Can Sell Real Estate After a Life Estate Ends Detailed Answer North Carolina property law treats a life estate and the remainder interest as separate pieces of ownership. While the life tenant is alive, the life tenant controls and uses the property. When the life tenant dies, legal title…
Can an executor unilaterally sell inherited real estate if the will doesn’t order its sale? 1. Detailed Answer In North Carolina, an executor (known as a personal representative) holds only the powers granted by the will or by statute. If the will does not explicitly authorize the sale of inherited real estate, the executor cannot…
How to Open an Intestate Estate in North Carolina Detailed Answer When someone dies without a valid will in North Carolina, their assets pass through a process called intestate administration. To begin, you must petition the clerk of superior court in the county where the decedent lived. Under N.C. Gen. Stat. § 28A-7-1, the petition…
How Does a North Carolina Personal Representative Locate, Verify and Secure Insurance Proceeds for a Decedent’s Accident Claim? Detailed Answer When someone dies after an accident, a personal representative (formerly called an executor or administrator) oversees the probate process in North Carolina. One of the representative’s key duties is to find and collect all assets…
What information and documents are needed for your initial call with a North Carolina probate attorney? Detailed Answer When you contact a probate attorney in North Carolina, gathering key information and documents beforehand helps make the conversation efficient. Your attorney uses the details to assess your situation and explain next steps under Chapter 28A of…
