North Carolina Guide: Recovering Carrying Costs from a Co-Owner During a Joint Sale What Are “Carrying Costs”? Carrying costs are the ongoing bills necessary to keep real estate in good standing. Typical items include: Property taxes Mortgage interest and principal Homeowners’ insurance Basic repairs and utilities (maintenance that preserves, not improves, the property) Step-by-Step: Calculating Each…
May I petition a court to remove an estate administrator who refuses to fulfill their duties in North Carolina? Detailed Answer Yes. Under North Carolina law, any interested person — such as an heir, devisee, creditor, or co-personal representative — may ask the clerk of superior court to remove an estate’s administrator when the administrator fails to…
Need More Time? How to Request an Extension for the Final Estate Accounting in North Carolina Detailed Answer The personal representative of a North Carolina estate—called an executor in a will or an administrator when there is no will—must file a final accounting with the Clerk of Superior Court. Under N.C. Gen. Stat. § 28A-21-2,…
How do I apply for letters of administration and what AOC forms are required in North Carolina? Detailed Answer When a person dies without a valid will, North Carolina calls the estate intestate. Someone—usually a spouse, adult child, or other close heir—must apply for Letters of Administration so the estate can be opened, debts paid,…
Do I Need to Open an Estate to Pursue a Wrongful Death Car-Accident Claim in North Carolina? Detailed Answer Yes—North Carolina law requires that a wrongful-death lawsuit be filed by a duly appointed personal representative of the person who died. Under N.C. Gen. Stat. § 28A-18-2, only the personal representative may sue for wrongful death,…
FAQ: How Do I Distribute Wrongful Death Proceeds to Rightful Heirs in North Carolina? Detailed Answer Under North Carolina law, money recovered in a wrongful death case is governed by N.C.G.S. § 28A-18-2. Even though the personal representative (PR) of the estate controls the lawsuit, the proceeds bypass the normal probate estate and are distributed…
How to Obtain and Review Documentation of a Medicaid Claim Against an Inherited Estate in North Carolina Quick Answer In North Carolina, you can obtain documentation of a Medicaid Estate Recovery claim by (1) checking the probate file at the Clerk of Superior Court in the county where the estate is being administered and (2)…
Detailed Answer Diminished value (DV) is the loss in market value your vehicle suffers after it is damaged and repaired. North Carolina follows the “before-and-after” rule—you may recover the difference between the fair market value (FMV) immediately before the crash and the FMV immediately after all quality repairs are complete. See N.C. Gen. Stat. §…
How to Obtain and Review Corporate Formation Documents and Bylaws Affecting a Decedent’s Business Interest in North Carolina Detailed Answer 1. Identify the Type of Entity First, determine whether the decedent owned an interest in a corporation, a limited liability company (LLC), a partnership, or another structure. The steps and statutes differ slightly: Corporation –…
Detailed Answer Why the Court May Remove a Personal Representative The Clerk of Superior Court, who acts as the probate judge in North Carolina, may revoke Letters Testamentary or Letters of Administration when the personal representative (PR) abuses the office or puts the estate at risk. The governing statute is N.C. Gen. Stat. § 28A-9-6.…
