How Are Proceeds Split When Co-Owners Sell Inherited Property? | NC

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Q: How are sale proceeds and closing costs usually divided when inherited property is sold by co-owners? A: Usually, the sale money is divided only after required costs are paid first. That means the closing typically pays off mortgages, liens, property taxes, real estate commissions, recording fees, title costs, court costs, and any sale expenses approved by the court. After those items come…