Agreements among family members for the settlement of an intestate's estate will be upheld in the absence of fraud and when the rights of creditors are met. Intestate means that the decedent died without a valid will. The termination of any family controversy or the release of a reasonable, bona fide claim in an intestate estate have been held to be sufficient consideration for a family settlement.
North Carolina Agreement Between Heirs as to Division of Estate
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Unlike South Carolina and many other states, real property in North Carolina does not typically pass through probate. When a decedent dies intestate (without a Will), title to the decedent's non-survivorship real property is vested in his or heir heirs as of the time of death [G.S. 28A-15-2(b)].
In cases where one or all the relatives on the title don't agree on a sale, one or more of them may try to stop the sale by filing a document in court known as a partition or sale in lieu of partition (NC Gen. Stat. § 46A-75). This is a time-consuming and expensive process.
Your child or descendants will inherit two thirds of the intestate real estate and whatever personal property remains after your spouse has received their share. If you die intestate, each of your children will receive an ?intestate share? of your property.
Your child or descendants will inherit two thirds of the intestate real estate and whatever personal property remains after your spouse has received their share. If you die intestate, each of your children will receive an ?intestate share? of your property.
If the decedent has none of these relatives, assets generally are distributed to family members in the following order of priority: 1) parents; 2) siblings and the children, grandchildren, etc., of deceased siblings; 3) grandparents; 4) aunts and uncles and, if deceased, their descendants.
Generally speaking, the surviving spouse is first in line to inherit, with children and grandchildren next in line. If the surviving spouse has any minor children, they may inherit the whole estate. Adult children may receive a share of inheritance.
If you die without a surviving spouse, your assets will generally pass to your children. If you have no children, your parents will receive the estate. This pattern continues through siblings, grandparents, aunts and uncles, and their descendants.
All heirs may agree to give ownership to one person. One heir may buy the others' shares, or the others may voluntarily give their share to a single family member. In some cases, the heirs may agree to form a corporation or other entity to hold and manage the property. Any owner of the property may file for partition.