Property Ownership
In NC, a 'revocable living trust' is often used in real estate to:
AAvoid property taxes
BTransfer property to beneficiaries upon death without going through probate✓ Correct
CCreate a mortgage for the property
DEstablish a homestead exemption
Explanation
A revocable living trust holds title to property during the grantor's lifetime; upon death, the property passes to beneficiaries through the trust without probate, providing privacy and efficiency.
Related North Carolina Property Ownership Questions
- Escheat in North Carolina means:
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