All Forum Posts by: Ivan Mendoza

Thank you for you reply Ken. I was able to determine the deed is a "tenants in common". In researching I found this from an attorneys website: "Upon the death of any cotenant, their interest is transferred to others that may or may not be the other cotenants, either according to their will or by intestate succession when there is no will." - That's a bummer because the heirs are MIA and don't seem to be interested.

1 Vote

Raleigh, North Carolina

Hello BP Fam!

I have a deal where the seller inherited the property from their grandmother. The property is in Franklin County NC but the deceased grandmother had her will written up in New York, NY. The heir also live in NY. The deed was never transferred over the heir name. My title attorney is telling me that the property needs to be probated in which an estate need to be formed and then the property can be sold. I've been reading online and found that this is not necessary in NC and that as long as heir goes to courthouse and shows the Will and death certificate the name can be changed on the deed to the heirs name. So my question is if the property actually need to go through probate or can a simple visit to courthouse settle this?

Thank you in advance!

0 Votes

Raleigh, North Carolina

Hello BP Fam!

I'm looking to buy a vacant lot that has a joint owner on the deed who are siblings. One of the owner has passed away and there is now only one living owner. The deceased owner did not leave a will and has children. The living owner wants to sell but we are not sure if we need to get the deceased owner children involved in order to moved forward will the purchase. Does the living owner have sole rights to sell or do the children need to consent on selling?

Thank you for all you help in advance!

0 Votes

Raleigh, North Carolina

Quote from @Peter Walther:

Since it appears this was a foreign corporation whose certificate of authority to do business in NC was involuntarily revoked it may not have had the authority to convey the property. In addition, was the conveyance done before or after the revocation? Was the corporate deed signed by an authorized signatory? Is the signatory and the Grantee the same person and if so, is there a recorded corporate resolution authorizing the conveyance?

All in all, it's probably best if you ask the title attorney for a title commitment which will show what the title insurer is requiring to insure title.

Thank you for comment and insight. The attorney said he will not be able to move forward until the issue is resolved with the Dept of Revenue.

0 Votes

Raleigh, North Carolina

Quote from @Chris Seveney:

@Ivan Mendoza

Just because they did transfer it does not mean it was legal. I have seen warranty deeds issued without title insurance which just means the seller warranties it but warranty can be useless

Title report should have noted that last transfer and need to see if they had title insurance

My recommendation would be to use that company to do this transaction if your closing agent is still giving you a hard time

@Chris thank you for you comments. I haven't confirmed if the seller purchased title insurance however if they did would that give the attorney the green light to transfer title?

0 Votes

Raleigh, North Carolina

Quote from @Adam Schneider:

@Ivan Mendoza -- What did the attorney say when you told him/her that the deed is in the seller's name?

He said it is under seller name but was transferred to her from the Company just a few years ago and that it cannot transfer it to anyone until it resolves whatever the issue is with NC Dept. of Rev

0 Votes

Raleigh, North Carolina

Hello BP Friends,

Hello Everyone! Wanted to ask the group for some helping regarding a deal I'm working on in Franklin County, NC. The attorney who is running title on a property I'm trying to buy came back stating the title is under the sellers company name. Apparently that company had its authority to operate in North Carolina revoked in 2003, at the direction of the Department of Revenue and that this type of action by the State means that the corporation cannot legally transfer ownership of any property. However I was able to look up the deed myself and discovered that the property title has already been transferred from the company/corporation to the seller name (company owners name), back in Oct 2021. The new deed is a Warranty Deed. Additionally I called the seller and confirmed there is no freeze on their assets. Since the property is now in the sellers name and not in the company name and they have a Warranty Deed as of 10/21, does the attorney comments have any bases to not transfer title to me?

0 Votes

Raleigh, North Carolina