Legal Question in Real Estate Law in North Carolina
My brother and I own 4 acres of land together that our Dad left us when he passed away. My brother now has a lean against it because of a mobile home bought before our dad passed He let the home go back . What can I do
1 Answer from Attorneys
If the debt is not also yours (i.e., you didn't co-sign), then they generally cannot take your share of the land without compensation to you. They can, however, file a partition action to get the property either divided or sold, with you getting your half. (And any equity, if there is some, paid to your brother after their debt is paid). For example, if the land is worth $100,000 total, you are entitled to your $50,000. If your brother owes them $15,000, then that would come out of his $50,000, and he'd get the remaining ~$35,000 after fees etc also came out. This is assuming that the sale would net the true value, which it often does not. Usually, if you can consent to a sale versus a partition action it is more profitable for both you and them. Or, you can offer to buy their interest in your brother's half for a negotiated sum if you want to keep the land.