Real Estate Q&A Series

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Real Estate Q&A Series ·

Can I start marketing the property again if the buyer has already failed to close multiple times? nc

Can I start marketing the property again if the buyer has already failed to close multiple times? – North Carolina Short Answer Sometimes, but not automatically. In North Carolina, a seller (or an assignor standing in the seller’s shoes under an assignment) usually should not re-market the property until the existing contract is properly terminated…

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Real Estate Q&A Series ·

If someone was supposed to pay the mortgage or property bills and didn’t, what options do I have to hold them accountable? nc

If someone was supposed to pay the mortgage or property bills and didn’t, what options do I have to hold them accountable? – North Carolina Short Answer In North Carolina, the main options depend on why the person was “supposed” to pay: a written agreement, a court order, or co-ownership rules. If co-owners share a…

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Real Estate Q&A Series ·

How do I formally document the buyer’s failure to perform so I can terminate the deal without getting sued? nc

How do I formally document the buyer’s failure to perform so I can terminate the deal without getting sued? – North Carolina Short Answer In North Carolina, the safest way to document a buyer’s failure to perform is to follow the contract’s default-and-termination steps in writing: identify the missed obligations, give any required notice and…

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Real Estate Q&A Series ·

If the mortgage isn’t paid and the property is foreclosed, could I be personally responsible even if I never assumed the loan? nc

If the mortgage isn’t paid and the property is foreclosed, could I be personally responsible even if I never assumed the loan? – North Carolina Short Answer Usually, no. In North Carolina, an heir or co-owner who inherits a home “subject to” an existing mortgage is not personally liable for the unpaid loan balance unless…

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Real Estate Q&A Series ·

Can a remainderman transfer their remainder interest to another family member while the life tenant is still alive? nc

Can a remainderman transfer their remainder interest to another family member while the life tenant is still alive? – North Carolina Short Answer Yes. In North Carolina, a remainderman can usually transfer (sell or gift) an existing remainder interest while the life tenant is still alive, as long as the remainder interest already exists and…

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Real Estate Q&A Series ·

What rights does the remainderman have if the life tenant is creating conflict or interfering with the property? nc

What rights does the remainderman have if the life tenant is creating conflict or interfering with the property? – North Carolina Short Answer In North Carolina, a remainderman generally cannot take possession or control of the property while the life tenant is alive, but the remainderman can protect the future interest if the life tenant…

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Real Estate Q&A Series ·

If I sign a deed giving my share of the inherited property to my sibling, does that automatically remove me from any mortgage responsibility? nc

If I sign a deed giving my share of the inherited property to my sibling, does that automatically remove me from any mortgage responsibility? – North Carolina Short Answer No. In North Carolina, signing a deed can transfer ownership of inherited real estate, but it usually does not remove a person from responsibility on the…

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Real Estate Q&A Series ·

Can we still do a disclaimer of inheritance if the deadline has passed or the estate has already been handled, or do we have to treat it as a gift transfer? nc

Can we still do a disclaimer of inheritance if the deadline has passed or the estate has already been handled, or do we have to treat it as a gift transfer? – North Carolina Short Answer In North Carolina, a beneficiary can still sign and file a renunciation (often called a “disclaimer”), but missing the…

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Real Estate Q&A Series ·

Can I challenge a deed transfer if I didn’t understand what I was signing because of mental-health issues or medication? nc

Can I challenge a deed transfer if I didn’t understand what I was signing because of mental-health issues or medication? – North Carolina Short Answer Yes—under North Carolina law, a deed can sometimes be challenged if the person who signed it lacked the mental capacity to understand what they were signing, or if the transfer…

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Attorney Jared Pierce
Attorney Jared Pierce
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