North Carolina Agreement to Partition Real Property Between Children of Decedent
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How to fill out Agreement To Partition Real Property Between Children Of Decedent?
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FAQ
One or both of the parties can file what is called a petition to partition to ask the court to divide the property equitably. The court can then give each party their share of these partitions, or force the sale of the property and apportion the proceeds ingly.
If you have one child who survives you, your surviving child will inherit all your property. If you have two or more children, who all survive you, they will all share your property equally. However, if one or more or more of your children predecease you, the distribution gets trickier.
Heirs who inherit land intestate (without a will) own it as tenants in common. 5 Tenants in common each own an undivided interest in the whole parcel of land, which means that none of the heirs can claim any specific piece of land. As tenants in common, each heir has equal rights to use and occupy the land.
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.
In North Carolina, anyone who inherits or purchases even a small interest of heirs' property can potentially force other owners to sell against their will, often for well below fair market value.
Any owner of the property may file for partition. This is a court case in which the owner asks a judge to divide up the property. Typically, this results in the judge ordering the property sold at auction. Anyone, including investors from outside the family, may buy the property at a sale.
Heirs property is land that is jointly owned by descendants of a deceased person whose estate was never handled in probate court and is passed down from generation to generation. These joint owners (heirs) have the right to use the property, but none of them have a clear title.
The Estate Settlement Timeline: While there is no strict deadline for this in North Carolina law, it's typically advisable to do so within a month to avoid unnecessary delays in the probate process.