How can a co-owner obtain monetary compensation instead of receiving physical property?: North Carolina Partition Actions

How can a co-owner obtain monetary compensation instead of receiving physical property? Detailed Answer In North Carolina, a co-owner who prefers cash rather than a slice of the land can use the state’s partition laws to be paid instead of taking physical property. North Carolina’s partition statute, found in Chapter 46A of the North Carolina…

What documentation and appraisal process are needed to prove my car’s diminished value? (North Carolina)

What documentation and appraisal process are needed to prove my car’s diminished value in North Carolina? To prove diminished value in North Carolina, you must show the vehicle’s fair market value immediately before the crash versus after proper repairs. You do that with strong documentation (police report, repair records, photos, market data) and a written…

How to protect life insurance proceeds when there is no named beneficiary from creditor claims in estate administration? (North Carolina)

How to protect life insurance proceeds when there is no named beneficiary from creditor claims in estate administration (North Carolina) Short answer: If no beneficiary is named, most life insurance policies pay the proceeds to the insured’s estate. Once paid to the estate, those funds become probate assets and are generally available to pay estate…

What options do heirs have when an estate administrator becomes unresponsive or refuses to distribute assets?

North Carolina Probate: Options When an Estate Administrator Is Unresponsive or Refuses to Distribute Assets Detailed Answer If you are an heir or beneficiary in North Carolina and the estate’s personal representative (executor or administrator) will not communicate or refuses to distribute assets, you have several tools under North Carolina law to get the estate…