Heirs Property: NC State Teams Up With NC A&T for Education Series
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Under a USDA Risk Management Agency subaward from Alcorn State University (Mississippi), NC State is partnering with NC A&T for an education series across North Carolina to be held throughout winter and spring of 2024. Please click this link for the official press announcement from A&T. The NC State collaboration is between CNR Forestry and CALS Extension (Agricultural and Resource Economics Department and NC Farmlink).
The initiative results from an increased interest and awareness of heirs property resolution. Heirs Property is generally defined as a parcel of real property owned by individuals with fractional (undivided) interest, each of whom have inherited their interest from an ancestor – the original owner or a descendant of same – under a state’s intestacy law, which distributes interest in property in the absence of a last will and testament. Because of the fractionalized ownership – often with interests owned by unknown or hard to locate individuals – effective management and disposition of the land is often hindered, in that it cannot be encumbered for a loan (e.g. for farming purposes) or sold (with clear title) without 100% agreement of all interest owners. All interest owners have a possessory right to the property and cannot prevent another interest owner from occupation. Any one interest owner – regardless of size of interest – can initiate a partition action (under NCGS Chapter 46A) which often results in a sale of property. This may frustrate owners intent of protecting a family and cultural legacy.
For more on the topic, here is a presentation Branan made to several conferences this past summer 2023 on the topic and a case study of resolution.
Click on the image below for a look at the schedule and registration the free summits (lunch included) in 2024. More information
|Guilford County (NCA&T University Farm Pavilion) 3020 McConnell Rd, Greensboro, NC
|Stokes County Cooperative Extension Center 700 Main St, Danbury, NC
|Halifax County Cooperative Extension Center 359 Ferrell Ln, Halifax, NC
|Caswell County Cooperative Extension Center 126 Court Sq #211, Yanceyville, NC
|Robeson County Cooperative Extension Center 455 Caton Rd, Lumberton, NC
|Union County Cooperative Extension Center 3230-D, Presson Rd, Monroe, NC