46A-75. Sale in lieu of actual partition. (a) Subject to G.S. 46A-29(b), the court shall order a sale of the real property described in the petition, or of any part of the property, under this Part only if it finds by a preponderance of the evidence that an actual partition of the property pursuant to […]
46A-76. Sale procedure. (a) General. – The procedure for a partition sale is the same as is provided in Article 29A of Chapter 1 of the General Statutes, except as provided in this Part. (b) One Commissioner Sufficient. – In a partition sale, the court is not required to appoint more than one commissioner. (c) […]
46A-77. Cotenant credit. Any cotenant entering the high bid or offer at any sale of one hundred percent (100%) of the undivided interests in any parcel of real property shall receive a credit for the undivided interest the cotenant already owns in the real property and shall receive a corresponding reduction in the amount of […]
46A-78. Partition sale of real property subject to a life estate. If the real property to be partitioned by sale is subject to a life estate, a life tenant who joins in the proceeding shall receive the value of the life tenant’s share calculated according to mortality tables accepted by the court and paid out […]
46A-79. Partition sale of remainder or reversionary interest of real property. The existence of a life estate in real property does not bar a partition sale of the remainder or reversionary interest of the property, and for the purposes of partition, the tenants in common or joint tenants of the remainder or reversionary interest shall […]
46A-80. Sale of standing timber; valuation of life estate. (a) When two or more persons own real property with standing timber, as tenants in common, joint tenants, or partners, one or more of the persons may seek a partition sale of the timber, separate from the real property. (b) If real property with standing timber […]
46A-81. Sale of oil, gas, or mineral interests. In a partition of oil, gas, or mineral interests of real property, when the court determines any of the following, the court shall order a sale of the oil, gas, or mineral interests and allocate the proceeds according to the interests of the tenants in common or […]
46A-82. Sale of real property required for public purposes on cotenant’s petition. When the real property of tenants in common or joint tenants is required for public purposes, one or more cotenants, or the cotenant’s guardian of the estate or general guardian, may file a petition verified by oath in the superior court of the […]
46A-83. Petition for revocation of confirmation order. (a) Grounds for Revocation. – Notwithstanding G.S. 46A-76 or any other provision of law, within 15 days of entry of the order confirming the partition sale of real property, the purchaser or any party to the partition proceeding may petition the court to revoke its order of confirmation […]
46A-84. Petition for revocation based on inadequate price. In the case of a petition brought pursuant to G.S. 46A-83(a)(2)c., and when an independent appraisal of the property being sold has not been previously entered into evidence in the action, and upon the request of any party, the court may order an independent appraisal prepared by […]
46A-84.5. Petition for revocation based on default bid. If a purchaser in a partition sale defaults on the purchaser’s bid, any party to the partition proceeding or the officer or person designated to make the sale may at any time petition the court to revoke its order confirming the partition sale. The petitioner for revocation […]
46A-85. Order becoming final; appeal; purchase of property. (a) Order Becoming Final; Appeal. – An order confirming the partition sale of real property becomes final 15 days after entry of the order of confirmation or when the clerk denies a petition for revocation, whichever occurs later. A party may appeal an order confirming the partition […]
46A-86. Sale proceeds belonging to certain parties. (a) Minor; Incompetent Adult. – When real property is sold under this Chapter and a party to the proceeding is a minor or an incompetent adult, the court shall take appropriate steps to secure the proceeds for the benefit of the party, including any of the following: (1) […]
