How should I label a payment to a co-owner? | NC

About this video

Q: How should I describe the payment to the other co-owner when I send it so it’s clear what it’s for? A: The safest description is one that matches the signed buyout and settlement documents exactly. In a co-owner property dispute, the payment should be labeled as settlement proceeds for the purchase of the other co-owner’s real property interest. If the agreement also includes mutual releases…