If the other parent is deceased, how does that affect my child’s rights to any inherited land or proceeds? – North Carolina Short Answer In North Carolina, if a parent who would have inherited is already deceased, that parent’s child can often inherit in that parent’s place, depending on the family tree and whether the…
Are there tax or transfer-fee consequences when deeding property from an individual to an LLC? – North Carolina Short Answer In North Carolina, deeding real property from an individual to an LLC can trigger the state excise tax on conveyances (often called a “transfer tax”) when the deed is recorded, depending on the consideration or…
What happens if the property has a mortgage and I deed it into my LLC? – North Carolina Short Answer In North Carolina, deeding mortgaged property from an individual name into an LLC usually does not remove the mortgage or the individual borrower’s personal responsibility on the loan. The bigger risk is the mortgage’s “due-on-sale”…
How do I transfer a property from my personal name to my LLC using a quitclaim deed? – North Carolina Short Answer In North Carolina, transferring real estate from an individual to an LLC by quitclaim deed usually means (1) preparing a deed that correctly names the individual as grantor and the LLC as grantee,…
Can a buyer or title company refuse to close unless I open an estate, even if the house passed to me automatically? – North Carolina Short Answer Yes. Even when North Carolina law says the surviving spouse became the sole owner automatically (most commonly when the deed created a tenancy by the entirety), a buyer…
Do I need to record anything or sign a new deed to put the property only in my name before selling? – North Carolina Short Answer Often, no. If the home was owned by both spouses as tenants by the entirety (the most common way married couples hold title in North Carolina), the surviving spouse…
What documents do I need to provide to sell the house when my spouse is still listed on the deed? – North Carolina Short Answer In North Carolina, the documents needed to sell a home after a spouse’s death depend on how the home was titled on the deed. If the deed shows the spouses…
How do I correct or remove an unauthorized change to a mortgage or loan account? – North Carolina Short Answer In North Carolina, correcting an unauthorized change to a mortgage or loan account usually starts with getting the servicer to lock down the account and provide the documents that supposedly authorized the change. If the…
Can someone legally put their name on a mortgage if they aren’t an owner of the property? – North Carolina Short Answer In North Carolina, a person can be added as a borrower on the mortgage debt (the promissory note) even if that person is not an owner on the deed, but it generally requires…
What can I do if I think someone forged signatures or filed a fraudulent deed on inherited property? – North Carolina Short Answer In North Carolina, a suspected forged or fraudulent deed is usually handled by quickly pulling the recorded documents, then filing a civil case in Superior Court to clear title (often called a…
