What are the tax consequences of inheriting the property with a stepped-up basis versus receiving an ownership share now?

What are the tax consequences of inheriting the property with a stepped-up basis versus receiving an ownership share now? – North Carolina Short Answer In North Carolina, inheriting real estate at a parent’s death generally gives you a stepped-up income tax basis equal to the property’s fair market value at death, which can reduce capital…

How do I confirm that the deed gifted to me by my mother is legally valid and shields me from foreclosure?: Clear steps under North Carolina law

How do I confirm that the deed gifted to me by my mother is legally valid and shields me from foreclosure? – North Carolina Short Answer In North Carolina, a deed is generally valid if it was signed by someone with authority to convey the property, properly notarized, delivered, and recorded. Even with a valid…