How to Include and Sell Co-Owned Real Property in North Carolina Probate and Handle Personal Property Inventory
1. Detailed Answer
When someone dies owning real property with another individual in North Carolina, start by identifying the form of co-ownership. Common types include tenancy in common and joint tenancy with right of survivorship. In tenancy in common, each owner holds a specific share. The decedent’s share becomes part of the probate estate. Under joint tenancy, surviving owners take full title automatically.
To include a tenancy-in-common share in probate, the personal representative must list that share among the estate’s assets. Under N.C. Gen. Stat. § 28A-13-4, the representative files an inventory of estate property within 90 days of appointment. Include real property interests and appraise them at fair market value.
Next, the personal representative needs court approval to sell estate real property. North Carolina law allows such sales when necessary to pay creditors or distribute assets under N.C. Gen. Stat. § 28A-15-1. The representative files a petition to sell the property, serves notice to interested parties, and obtains an order from the clerk of superior court. Once the clerk signs the order, the representative can list the property and complete the sale.
Handling personal property requires the same inventory process. List tangible items like furniture, jewelry, vehicles, and collectibles. Appraise each item and include the appraisal in the filing. If an appraisal is not practical, note the item’s reasonable value.
After the inventory, the personal representative distributes personal property according to the will or North Carolina intestacy law. If selling personal property, the representative can sell items that the will does not specifically devise or that the beneficiaries waive under N.C. Gen. Stat. § 28A-15-3.
2. Key Steps to Include and Sell Co-Owned Real Property and Handle Personal Property Inventory
- Determine co-ownership type (tenancy in common vs. joint tenancy).
- File the estate inventory within 90 days as required by N.C.G.S. § 28A-13-4.
- Appraise the decedent’s share of real property at fair market value.
- File a petition for leave to sell real property under N.C.G.S. § 28A-15-1.
- Serve notice and obtain a clerk’s order authorizing the sale.
- List and sell the property, then report the sale to the court.
- Inventory personal property, appraise items, and file under N.C.G.S. § 28A-13-4.
- Sell or distribute personal property per the will or North Carolina intestacy statutes.
Probate administration can feel complex. Our team at Pierce Law Group guides you through each step. Contact our firm of experienced attorneys to discuss your situation. Email us at intake@piercelaw.com or call (919) 341-7055 today for a consultation.
