Legal Question in Wills and Trusts in North Carolina
We are buying a piece of property that was my wife�s grandmothers house. It was used as collateral for her nursing home expenses. She has since passed and my father in-law is now executor of the property. We (my wife and I) are going to do a refinance to pay off the remainder of the bill and her father is going sign the property over to us. We are concerned there might be an inheritance tax or fee we might get hit with. We have yet to set down with the lawyer as her father is handling that part of it. Would you know of any issues that we might run into that we would be unaware of besides the normal fees for purchasing the property. The State is NC. County Buncombe.
1 Answer from Attorneys
There is no inheritance tax in North Carolina. There may be a real estate transfer tax if you are buying the property but this would be a normal fee for all sales. So would any fees for preparation of a deed by a real estate attorney unless the probate attorney is handling that as part of administering the estate.
What other fees would there be that concerns you?
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