If you have ever owned property as a tenant in common, you understand how difficult dealing with issues pertaining to the jointly owned property can be when dealing with multiple owners. The question is how to end the common ownership. The answer is through a proceeding known as a Partition action. A Partition is a special proceeding filed before the clerk in the county in which the … [Read more]
NC GENERAL ASSEMBLY CLARIFIES EFFECT OF CHARGING ORDER
With the new NC limited liability company act becoming effective January 1, 2014, the General Assembly has clarified the rights of judgment creditors of an interest owner of an LLC. Pursuant to GS 57D-5-03, a judgment creditor of an interest owner in an LLC is simply entitled to “charge” the economic interest of the interest owner with payment of the unsatisfied amount of the judgment with … [Read more]
