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Property owned by either party prior to marriage is that partys separate property, provided that it is not gifted to the marital unit. Equitable distribution law presumes, further, that an equal (50/50) division of the marital property will be equitable.
Can I prepare my own deed and have it recorded? North Carolina law allows you to prepare a Deed of Conveyance for any real property to which you have legal title. However, the conveyance of real property is a legal matter that should be given under and with the advise of legal counsel.
Both spouses owning property Both parties must sign documents in purchase, sale, or refinance transactions. A married person buying property individually The owner needs to sign, but their spouse may not be required to sign documents at closing.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
It depends on who is named on the mortgage. This is called joint and several liability. You are both responsible and liable for paying the mortgage. That doesnt mean you are both liable for half each though if one person doesnt pay their share, the other can still be held responsible for the whole mortgage.
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Updated May 14, 2022. A North Carolina general warranty deed is used to legally transfer property in North Carolina from one person to another. A warranty deed comes with a guarantee from the seller that the property has clear title.
Spouses in North Carolina Inheritance Law If you have no living parents or descendants, your spouse will inherit all of your intestate property. If you die with parents but no descendants, your spouse will inherit half of intestate real estate and the first $100,000 of personal property.
A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document. by Brette Sember, J.D. updated April 28, 2022 2min read.
If the wifes name is not on the deed, it doesnt matter. Its still marital property because it was bought during the marriage. This makes it marital property and is still split between both parties. The wife is entitled to receive either equal share or equitable share of the house.
Both spouses owning property Both parties must sign documents in purchase, sale, or refinance transactions. A married person buying property individually The owner needs to sign, but their spouse may not be required to sign documents at closing.

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