Is North Carolina a equitable distribution state?
Is North Carolina a equitable distribution state?
Equitable Distribution is the body of law that governs the division of property and debts in North Carolina. North Carolina is not a community property State. In NC, there is a presumption that marital assets and debts are divided equally between spouses.
How do you sell a house if one partner refuses?
If Your Partner Refuses Permission If you want to sell and your partner doesn’t (or vice versa), one person can begin an action of division and sale in court. However, the other party can petition the court to a division of the proceeds, or to buy the place at a market price or one decided by the court.
Can I be forced to sell a jointly owned property?
The Court’s power to order partition or sale Under s 66G of the Conveyancing Act 1919, a co-owner of a property can apply to have a trustee (i.e. third party) appointed to sell or partition the property, subject to any encumbrances. In this case, the Court will order the sale of the whole property.
How can a co owner force the sale of a property?
If the co-owners cannot reach agreement on what to do with the property, or one co-owner cannot raise enough funds to buy out the other co-owner’s share, then you can compel the sale of the property under the Act.
Can one sibling forced sale of inherited house?
When siblings inherit a property the best case scenario is that they all agree on what to do with it next. Unfortunately differences of opinion are common, causing divisions at an already difficult time, but without going to court one sibling can’t force another to sell an inherited home against their will.
