This form is an Personal Representatives's Deed where the grantor is the individual appointed as Personal Representative of an estate and the Grantee is the beneficiary under law. Grantor conveys the described property to Grantee and only covenants that the transfer is authorized by the Court and that the Grantor has done nothing while serving as personal representative to encumber the property. This deed complies with all state statutory laws.
Raleigh North Carolina Personal Representative's Deed to an Individual
State:
North Carolina
City:
Raleigh
Control #:
NC-031-77
Format:
Word;
Rich Text
Instant download
Description
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How to fill out North Carolina Personal Representative's Deed To An Individual?
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FAQ
North Carolina does not allow real estate to be transferred with transfer-on-death deeds.
With regard to transfer or real property by beneficiary designation, as of the date of this writing, North Carolina (unlike some other states) does not allow real property to transfer through a beneficiary designation - transfer on death deeds.
This type of ownership does not have survivorship rights in the property. So, at the death of one owner, the property passes to the deceased owner's heirs, as opposed to other owners.
There is a legal process to get the property transferred in the name of the beneficiaries or legal heirs. If there is Will, the transfer process is simple, provided nobody is challenging the Will. The executor will transfer the property to the beneficiary mentioned in the Will.
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).
A Lady Bird Deed is a deed that allows a real estate owner to transfer a contingent ownership interest in a piece of property to specific and designated beneficiaries while still retaining an enhanced life estate. This means that a beneficiary's claim to the property will not vest until the property owner dies.
The answer is yes, it's perfectly normal (and perfectly legal) to name the same person as an executor and a beneficiary in your will.
With regard to transfer or real property by beneficiary designation, as of the date of this writing, North Carolina (unlike some other states) does not allow real property to transfer through a beneficiary designation - transfer on death deeds.
Once the Grant has been received the personal representative has a duty to collect in the assets of the deceased, pay the liabilities and distribute the estate to the beneficiaries. They have many powers to assist them when dealing with an estate e.g. power to sell property, insure property and invest monies, etc.
Both the heirs' signatures and the executor's signature must be acknowledged in the presence of a notarial official before the deed can be recorded in the county where the subject property is located. An affidavit of consideration or value is required for deeds recorded in Currituck County.