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Probate Q&A Series ·

When does selling the property require court approval because debts are larger than the estate’s assets? NC

When does selling the property require court approval because debts are larger than the estate’s assets? – North Carolina Short Answer In North Carolina, selling a decedent’s real property to raise money to pay estate debts usually requires court involvement unless the will clearly gives the personal representative power to sell. When the estate is…

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Probate Q&A Series ·

What happens to a secured loan on equipment after the owner dies, especially if the equipment was transferred to me before death? NC

What happens to a secured loan on equipment after the owner dies, especially if the equipment was transferred to me before death? – North Carolina Short Answer In North Carolina, a secured loan generally stays attached to the equipment even after the owner dies or even if the equipment was transferred to someone else before…

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Probate Q&A Series ·

Do wrongful death settlement funds have to pass through the estate, and how are minors’ distributions safeguarded and approved?

Do wrongful death settlement funds have to pass through the estate, and how are minors’ distributions safeguarded and approved? – North Carolina Short Answer In North Carolina, wrongful death settlement proceeds are generally not estate assets, even though the personal representative (estate administrator) usually must receive and distribute them. The personal representative must keep those…

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Probate Q&A Series ·

Can the administrator sell the co-owned house without my consent, and how do I ensure a neutral realtor and an arms-length sale?

Can the administrator sell the co-owned house without my consent, and how do I ensure a neutral realtor and an arms-length sale? – North Carolina Short Answer In North Carolina, a court-appointed administrator generally cannot sell a co-owner’s share of a house without that co-owner’s consent. The administrator can usually sell only the decedent’s interest,…

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Real Estate Q&A Series ·

Will getting an appraisal now help with selling, transferring, or dividing the property later? NC

Will getting an appraisal now help with selling, transferring, or dividing the property later? – North Carolina Short Answer Often, yes. In North Carolina, a current independent appraisal can create a clear, defensible starting point for fair market value when real property may be sold, transferred, or divided later, especially when multiple owners or a…

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Probate Q&A Series ·

Do I need to publish a notice to creditors if we are requesting a year’s allowance in an estate case? NC

Do I need to publish a notice to creditors if we are requesting a year’s allowance in an estate case? – North Carolina Short Answer Usually, yes. In North Carolina, when a personal representative (executor or administrator) is appointed, the personal representative generally must publish a Notice to Creditors after the clerk issues Letters, even…

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