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Surplus Funds Q&A Series ·

How is my portion of the surplus calculated based on my ownership and inherited interest?: Answered for North Carolina

How is my portion of the surplus calculated based on my ownership and inherited interest? – North Carolina Short Answer In North Carolina, foreclosure “surplus funds” are distributed first to any remaining lienholders in order of priority, and then to the property’s owners of record as of the sale date. If you held a one-half…

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How do I update or correct a property deed if my name isn’t listed properly?: Practical steps under North Carolina law

How do I update or correct a property deed if my name isn’t listed properly? – North Carolina Short Answer In North Carolina you don’t “edit” a recorded deed; you fix title by recording a new instrument or getting a court order. Minor clerical mistakes (like a misspelling) are usually corrected with a correction deed…

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Probate Q&A Series ·

Can we sell a financed vehicle during probate to cover loan payments and avoid repossession?: North Carolina law

Can we sell a financed vehicle during probate to cover loan payments and avoid repossession? – North Carolina Short Answer Yes—once the Clerk of Superior Court appoints a personal representative, that person may sell the decedent’s vehicle without a court order. However, the lender’s lien remains until it is paid or released, so the estate…

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How can I obtain the listing agreement and commission terms for my mother’s estate property?: North Carolina

How can I obtain the listing agreement and commission terms for my mother’s estate property? – North Carolina Short Answer In North Carolina, start by requesting the listing agreement and commission terms directly from the personal representatives (executors). You may also review the estate file at the Clerk of Superior Court for the inventory and…

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Are executors breaching their fiduciary duties by making repair and financial decisions without beneficiary approval or notice?: North Carolina guidance

Are executors breaching their fiduciary duties by making repair and financial decisions without beneficiary approval or notice? – North Carolina Short Answer In North Carolina, executors must act loyally, prudently, and impartially for the benefit of all heirs and beneficiaries. They may make routine management decisions and hire professionals without beneficiary approval, but real estate…

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Probate Q&A Series ·

How can I find out if the corporate trustee will agree to serve and what asset threshold they require?: Practical steps under North Carolina law

How can I find out if the corporate trustee will agree to serve and what asset threshold they require? – North Carolina Short Answer In North Carolina, a trustee accepts the role by following the method in the will/trust or by acting as trustee. Whether a corporate trustee will serve—and the minimum asset size they…

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Probate Q&A Series ·

Can I access the decedent’s individual and retirement accounts before the trust is formally established?

Can I access the decedent’s individual and retirement accounts before the trust is formally established? – North Carolina Short Answer Usually no. In North Carolina, retirement and transfer-on-death (TOD) brokerage accounts that name a testamentary trust pass directly to the trust—not to the estate—so the executor cannot withdraw or redirect those funds. The custodian will…

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Probate Q&A Series ·

How can I verify and clear up the unrecorded deed and unpaid property taxes for co-owned estate land?: Answered under North Carolina law

How can I verify and clear up the unrecorded deed and unpaid property taxes for co-owned estate land? – North Carolina Short Answer In North Carolina, real estate passes to heirs or devisees at death, but co-administrators may ask the Clerk of Superior Court for authority to take control and, if needed, sell land to…

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Probate Q&A Series ·

What process should I follow to inventory and confirm ownership interests in multiple real property parcels in an estate?

What process should I follow to inventory and confirm ownership interests in multiple real property parcels in an estate? – North Carolina Short Answer In North Carolina, co-administrators must file an Inventory (AOC-E-505) within three months of qualifying, listing each parcel with a clear description and date-of-death value. Real estate vests in heirs or devisees…

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Attorney Jared Pierce
Attorney Jared Pierce
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