The practice of searching title to South Carolina real property may be changing soon. Governor Henry McMaster recently signed a bill allowing for the creation of a statewide filing and indexing system of liens imposed by the South Carolina Department of Revenue that will take effect on July 1, 2019. Currently, state tax liens are filed with the office of a county’s Register of Deeds, Register of Mesne Conveyance, or Clerk of Court. Once the new system is implemented, liens will instead be filed in a statewide registry that will be publically accessible and searchable online. The most significant result … Continue reading
Author Archives: Administrator
Common Misconceptions for HOA or Condo Board Members
Do you serve on the Board of Directors of a Community Association? If so, here are some common misconceptions that can cause problems for many boards— Meeting Minutes. Does your board keep minutes of its meetings? If not, then your board should. Second, your board meeting minutes should be a record of what was done at the meeting, not what was said. There is no need to record everything that is said. Instead, simply record actions that were taken by the board (i.e. approved budget, approved new landscaping contract, etc.) Quorum. Quorum is the minimum required number of directors that … Continue reading
Real Property and Medicaid Estate Recovery
When a person age 55 or older is the recipient of Medicaid, Medicaid tracks all of the money spent on the person’s behalf. While a Medicaid recipient can hold on to his or her home while alive, at the recipient’s death, Medicaid will place a lien on the recipient’s estate. This is known as Estate Recovery. The lien is typically placed on the Medicaid recipient’s home which then must be sold to pay back Medicaid. Clearly this disrupts many people’s plan of passing their real property down to their loved ones. There are some exceptions—times when Medicaid does not place … Continue reading
Jim Slaughter Recognized for Pro Bono Service
Attorney Jim Slaughter was recently recognized by the Greensboro Bar Association for his pro bono work by being named to the Herb Falk Society. The Herb Falk Society honors Bar members who have performed 75 hours or more of pro bono service hours during the year, which includes free or reduced legal services to clients and activities to improve the legal profession. This is Jim’s 7th year of recognition. His is pictured here with Judge Teresa Vincent, 2019 President of the Greensboro Bar Association.
Change in the Law – North Carolina Year’s Allowance
As of January 2019 the Year’s Allowance in North Carolina has been adjusted. For a surviving spouse there is an increase in the statutory allowance from $30,000.00 to $60,000.00. The Spousal Allowance is intended as a type of stop-gap; a means of meeting the immediate needs of the surviving spouse when he or she is widowed and presumably assets may be tied up during the estate administration. The $60,000.00 Spousal Allowance is authorized by statute to provide for necessities. It may only be paid from the personal property of the Decedent and not from real property. With the exception of … Continue reading
Marital Rights in North Carolina Real Estate
Occasionally sellers of real property, or borrowers in refinance transactions, are confused upon being informed their spouse is required to sign certain documents at closing. It’s not uncommon for closing attorneys to receive inquiries wondering “why do they need to sign? They’ve never had anything to do with this property!” While it’s certainly possible to purchase and hold property individually, a married person generally needs to involve their spouse in some manner when selling or refinancing North Carolina real estate. The concept of marital rights in real property descended from English common law principles designed to benefit the surviving spouse … Continue reading
New Year, New Taxes: How the New Year Could Affect North Carolina Property Taxes
The beginning of the year is often filled with thoughts of the future, personal resolutions you want to keep, and the hope of spring being just around the corner. The last thing you want to think about is property taxes. However, in many North Carolina counties, the New Year may also bring with it higher property taxes. In North Carolina, real property taxes are based on the value of real property on January 1st of that year. Theoretically, that means that the value of your home or real property as it stands on January 1st is the value on which … Continue reading
Buying Property at Foreclosure Sales
So, are you thinking of purchasing property at a foreclosure sale? Perhaps you think that you can make a lot of money buying a house in foreclosure, and then flipping it. Certainly some people do very well doing just that. HOWEVER if it looks too good to be true, then it likely is. Before you bid in a foreclosure sale, there are several things to consider. First, understand how foreclosure sales in North Carolina work. The foreclosure sale is going to be set for a specific time between 10 am and 4 pm on a day the courthouse is open. … Continue reading
Inheriting Real Property and No Deed to Show For It.
When you find out that you have inherited real property, a reasonable assumption might be that a deed is forthcoming. After all, when we buy real property we get a deed to show that we own it. However, with inherited real property in North Carolina, there is no new deed. It may seem counter-intuitive but it is the practice. The reason for this is because real property passes immediately upon death in North Carolina. Therefore, you owned the property as soon as the person who left it to you died. Of course, if the person who died has a lot … Continue reading
Decking the Halls in Your Homeowner’s Association
The fall and winter holiday months are the perfect time to show your holiday spirit. Regardless of which occasion is your favorite, this time of year draws homeowners to the holiday aisles filled with décor of all kinds. In fact, a recent study revealed that the value of United States imports of Christmas lights alone totaled $463.2 million in 2017.[1] It looks like everyone is eager to spread the holiday cheer. But, before you turn your home into a scene straight out of Christmas with the Kranks, you should make sure your homeowner’s association doesn’t have any prohibitions on the … Continue reading
Trusts in Real Estate Transactions
Trusts have become a more common real estate holding tool, as people take a more aggressive approach to their estate planning. Trusts can be great tools for maintaining the privacy of personal finances and avoiding lengthy probate proceedings. Moving real property in and out of trust is typically no more complicated than recording a properly executed deed to or from the trustee of the trust. Selling property held in trust requires a bit more paperwork, but a skilled attorney should be able to easily guide clients through the additional documents required. For many years, the standard practice in transactions involving … Continue reading
Be Careful Driving, Especially This Thanksgiving Weekend
Between November 21 and November 25, North Carolina state troopers in North Carolina will be placed every 20 miles along I-40 in an effort to encourage safe travel. The “Thanksgiving I-40 Challenge” is a joint operation with seven other states along the Interstate 40 corridor. While it is always important to exercise safe driving, here are a couple of important reminders, especially during this holiday season. Here are a few reminders as you get behind the wheel: Expect increased traffic and delays, so allocate additional time for traveling to your destination so that you do not feel the need to … Continue reading
You’ve Been Served! But, What Does That Mean?
We’ve all seen a movie where someone is handed a piece of paper and told, “You’ve been served.” But, what exactly does that mean? In North Carolina, lawsuits are started when a complaint is filed and a summons is issued. Before the lawsuit can be heard by a Judge or Magistrate, the person sued must be properly notified of the pending lawsuit. That’s the simple explanation of “service.” However, the process of serving someone with the paperwork is more complicated than just merely saying that the lawsuit exists. Our rules provide different methods of service, which can also vary depending … Continue reading
Can an affidavit “fix” an error within a document recorded in North Carolina?
Real estate attorneys are occasionally faced with questions from clients and lenders about correcting typographical or other errors appearing in a recorded document. It is often suggested that simply filing an affidavit should be sufficient to correct the document, but such affidavits are not always capable of accomplishing the intended result. North Carolina recently revised its statutes regarding corrective affidavits, and this brief overview is intended to highlight distinctions between the various affidavits currently available. Affidavits for Minor Typographical Errors In the event a recorded instrument contains a “nonmaterial” or other minor error, an affidavit may be recorded to provide … Continue reading
Intestacy in North Carolina or Dying Without a Will
I understand that 75% of North Carolinians die without a Will. This is called dying Intestate. If you die without a Will, then the Intestate laws of the state of North Carolina determine the distribution of your assets. As discussed in a Blog Post, dated February 15, 2013, a common misconception is that if a married person dies without a Will, the assets pass automatically to the surviving spouse. This is not entirely true. Under current law, this is what happens: If The Person Who Dies is Married: Real Property If survived by one child or a descendant of one … Continue reading
North Carolina Small Estate Administration
“Small Estate Administration “may be an option for small estates, both testate (with a Will) or intestate (without a will). For eligible estates this allows the heirs to receive the property to which they are entitled under the Will or the Intestate laws of North Carolina with an abbreviated proceeding known as “Collection by Affidavit.” It is simpler, easier and a less expensive method. In order to qualify for this proceeding, the North Carolina estate must be valued at less than $20,000.00 ($30,000.00 if the sole heir is the surviving spouse). Thirty (30) days must have passed since the date … Continue reading
When is the best time for beneficiaries to Inherit?
Often times when I discuss drafting a Will for a client, we talk about whether the client’s children that are the beneficiaries should inherit outright or in trust. For many clients, if the child is over 21 or 25, the assumption is that the adult child should inherit outright. But is that really the best idea? So many factors should be considered in determining what is right for your estate plan and your beneficiaries. Once a person inherits, the money is his or hers and is subject to his or her creditors, divorce and other personal liabilities. While many want … Continue reading
Important Considerations before Buying a Timeshare
Are you thinking about buying a timeshare? Undoubtedly, having a week or more reserved in a tropical destination for a vacation every year can be appealing. However, there are a few things that you should consider before buying a timeshare – First, owning a week at a timeshare is similar to owning a condominium unit, in that you will owe ongoing (monthly or annual) assessments for maintenance to the timeshare association. These maintenance assessments are in addition to the actual purchase price of the timeshare unit. So, you need to be prepared to pay assessments to the timeshare association the … Continue reading
Are You Ready to Buy a House?
Whenever I walk into our firm’s lobby to introduce myself to real estate clients who are there to close on a house, I tend to always greet them by stating “Are you ready to buy a house?!” I usually get one of three responses: a nervous chuckle followed by an “I guess so,” a very loud and relieved “Heck yeah, let’s do this!,” or a “Well, I guess I’m as ready as I’ll ever be, so let’s get this over with.” As a real estate attorney and someone who has recently purchased a home, I am fully aware that buying … Continue reading
A Different Solution for Business Owners Who Are Owed Money by Someone Who Dies
“A Different Solution for Business Owners Who Are Owed Money by Someone Who Dies” blog from Law Firm Carolinas. Continue reading