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How Probate Works in North Carolina and South Carolina

By
Real Estate Broker/Owner with Showcase Realty LLC 183393

A probate sale happens when a homeowner dies without a will bequeathing the house to an heir. In order to liquidate the asset, an estate attorney or representative sells the property and distributes the money to family members.

 

The probate process involves determining the validity of a will, documenting the property of the decedent, ensuring taxes and debts are paid, and distributing assets under the will or state laws.

 

Is probate the same in every state?

The rules that govern each state are different, so probate of a real property can vary from state to state.

 

Probate of real property in North Carolina

Unlike many other states, real property in North Carolina does not typically pass through a probate. When a decedent dies with a Will and explicitly named an individual who they wished to receive the property, then upon probate of the Will, title to the decedent’s non-survivorship real property becomes vested in the devisees of the will.

 

In the event the decedent did not have a will, probate laws dictate how the decedent’s assets should be distributed. However, probate isn’t always required. It will depend on the type of assets the decedent owned.

 

If an estate falls below a certain threshold, it is considered a “small estate” and doesn’t require court supervision to be settled.

 

Some of the most common kinds of assets that pass without probate are Joint Tenancy Assets, Tenancy by the Entirety or Community Property With Right of Survivorship, Beneficiary Designations, and Payable on Death Accounts/Transfer on Death Accounts.

 

The executor may petition the court to request permission to bring the real property into the estate to sell if the estate’s debts exceed its remaining assets. The sales proceeds will be used to help satisfy the remaining debts of the estate.

 

If the decedent includes language in their will explicitly conveying the property to the executor and granting the executor permission to sell, then executors are exempted from requesting permission.

 

Probate of Real Property in South Carolina

 

In South Carolina, Real Property is a probate asset and passes through a decedent’s estate.

 

The first step is to determine if a court action is required. A formal or informal action is required when the decedent owns individually-held property without a beneficiary designation that exceeds a certain dollar amount, currently $25,000.00 or real estate.

 

If all of the decedent’s assets are all non-probate then no South Carolina probate administration is required.

 

If probate administration is necessary, it can occur with a Will or without a Will. If the decedent died with a Will, the executor designated in the Will may request that the Will be admitted by the court and that he or she be appointed as the Personal Representative of the estate.

 

If the decedent died without a will, a family member or other interested party will petition the court to be appointed as Personal Representative of the decedent’s estate and the estate will pass in accordance with what South Carolina law provides.

 

In addition, unlike North Carolina, South Carolina does not have tenants by the entireties property. Instead, most property is held as tenants in common. A 50% undivided interest owned by a deceased spouse will pass through probate of the deceased spouse’s estate.

 

Probate of a real property can be a complex process. We at Showcase Realty are ready to assist you!

 

Call us today at: 704-997-3794, or email OfficeAdmin@ShowcaseRealty.net. We look forward to serving you.

 

 

 **In case you can not view this video here, please click the link below to view How Probate Works in North Carolina and South Carolina on my YouTube channel: https://www.youtube.com/watch?v=QESFtyXGnUM&feature=youtu.be** 

Posted by

Nancy Braun

Owner & Broker in Charge

Showcase Realty,LLC

 

1430 S Mint St Suite 106

Charlotte, NC 28203

704-997-3794

704-625-2361 (f)

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