Can an heir receive a default portion of foreclosure surplus funds before completing full heir verification?

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…

What steps are required to identify and confirm all heirs’ interests and calculate their shares of surplus funds?

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…

What information and documents are needed for your initial call with a North Carolina probate attorney?

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…

Does a Final Divorce Automatically Revoke a Former Spouse’s Status as Executor and Beneficiary Under a North Carolina Will?

Does a Final Divorce Automatically Revoke a Former Spouse’s Status as Executor and Beneficiary Under a North Carolina Will? 1. Detailed Answer Under North Carolina law, a final divorce generally does revoke any gifts, appointments, or nominations in your will that favor your former spouse. This rule appears in the North Carolina General Statutes at…