Installment Land Contracts in North Carolina

An installment land contract is a fairly simple conveyancing device, somewhat analogous to a conditional sales contract for personal property and is the most commonly used substitute for the purchase money mortgage or deed of trust. The vendor agrees to convey the described premises upon payment by the purchaser of a specified purchase price and upon performance of any other obligations outlined in the contract. The down payment is generally minimal, with the balance of the purchase price to be paid in installments at regular intervals over an extended period. Like a mortgage, installments are applied to principal and interest and the debt may extend over relatively short periods or for periods exceeding twenty years. Commonly, the vendor retains legal title until the final payment is made, at which time the deed is delivered to the purchaser, sometimes under an escrow arrangement made simultaneously with the installment contract. Some land sale contracts call for a deed to the purchaser after a certain percentage of the purchase price has been paid, at which time the purchaser delivers to the vendor a purchase money mortgage or deed of trust to secure payment of the balance. The purchaser usually takes possession at the time the installment contract is executed and assumes responsibility for taxes and upkeep of the property

Estate Planning Considerations for the North Carolina Principal and Income Act of 1973

Unless the governing instrument makes another provision, the Act applies to regulate the allocation of income and expense between the income and principal interests of a trust or estate. Accordingly, draftsmen who do not expressly exempt the fiduciary from the provisions of the Act or simply give the fiduciary standard North Carolina powers by incorporating by reference the provisions of N.C. Gen. Stat. § 32-27 are directing by default that the provisions of the Act apply to govern the allocation made by the fiduciary. This article will explore some of the consequences of each choice and will provide a framework for a decision whether to have selected sections of the Act apply or to draft specific instructions or to allow for fiduciary discretion

Estate Planning Considerations for the North Carolina Principal and Income Act of 1973

Unless the governing instrument makes another provision, the Act applies to regulate the allocation of income and expense between the income and principal interests of a trust or estate. Accordingly, draftsmen who do not expressly exempt the fiduciary from the provisions of the Act or simply give the fiduciary standard North Carolina powers by incorporating by reference the provisions of N.C. Gen. Stat. § 32-27 are directing by default that the provisions of the Act apply to govern the allocation made by the fiduciary. This article will explore some of the consequences of each choice and will provide a framework for a decision whether to have selected sections of the Act apply or to draft specific instructions or to allow for fiduciary discretion

Installment Land Contracts in North Carolina

An installment land contract is a fairly simple conveyancing device, somewhat analogous to a conditional sales contract for personal property and is the most commonly used substitute for the purchase money mortgage or deed of trust. The vendor agrees to convey the described premises upon payment by the purchaser of a specified purchase price and upon performance of any other obligations outlined in the contract. The down payment is generally minimal, with the balance of the purchase price to be paid in installments at regular intervals over an extended period. Like a mortgage, installments are applied to principal and interest and the debt may extend over relatively short periods or for periods exceeding twenty years. Commonly, the vendor retains legal title until the final payment is made, at which time the deed is delivered to the purchaser, sometimes under an escrow arrangement made simultaneously with the installment contract. Some land sale contracts call for a deed to the purchaser after a certain percentage of the purchase price has been paid, at which time the purchaser delivers to the vendor a purchase money mortgage or deed of trust to secure payment of the balance. The purchaser usually takes possession at the time the installment contract is executed and assumes responsibility for taxes and upkeep of the property

Tatami: An open source enterprise social network

Tatami is an open source enterprise social network created by Ippon, a consulting and software design company with offices in France and the USA. Any company can install Tatami, allowing its employees to communicate in a Twitter-like fashion. Self-hosting Tatami also lets a company retain ownership of its data, keeping it out of the hands of third parties. Tatami’s front end was originally coded using the Backbone.js library, which can make it challenging to add and modify features. Ippon decided to have it rewritten using the AngularJS web application framework, which will fix the previously mentioned problems. This rewrite will also allow contributors to easily overhaul Tatami’s conversation experience in the future. Technology moves fast, so Tatami is a bit out of date in the back end as well. We will rewrite all database related Java code to work with the latest recommended version of Cassandra, the chosen database software for Tatami. Also, we will modify the Spring Framework back end to use Spring Boot so that companies can get Tatami up and running quicker. Currently we have moved the front end from Backbone.js to AngularJS. We will spend the Spring 2015 semester upgrading the back end. Once all upgrades are complete, we expect it to be easier for software developers all over the world to contribute to Tatami on GitHub. Lastly, more activity on Tatami’s repository will help introduce more people to Tatami and increase the adoption of Tatami as the preferred way for employees to stay connected within their company.https://scholarscompass.vcu.edu/capstone/1017/thumbnail.jp

The District Court and the Ongoing Pursuit of Local Justice in North Carolina

The state of North Carolina’s system of district courts is a prominent example of the success of legal reform, but also of the difficulties that reform can encounter. From the earliest days of the Lords Proprietors, Old English law played a significant role in colonial judicial administration. As North Carolina expanded, however, growing pains emerged; among the most severe were the availability of courts for small matters, the qualifications of those appointed to serve as judges, and the challenges brought on by interference in the court system by the executive and legislative branches of government. This Article tracks North Carolina’s long journey from judicial pariah to a model of effective governance, including the influence of other states, legal scholars, and public opinion. It concludes that the establishment of a dedicated system of district courts in the state fundamentally improved and continues to maintain—despite recent changes—a robust administration of justice in North Carolina

Optimal Point-Source Extraction for Spitzer IRS Spectra

A new optimal-extraction technique has been developed for deriving point-source spectra from data taken by the Infrared Spectrograph (IRS) on-board the Spitzer Space Telescope. The new technique gives improvements of up to a factor of two in the signal-to-noise ratio (S/N) for faint (< 10 mJy) sources, corresponding to an effective quadrupling of the exposure time. Regular extraction consists of an even-weighted summing of pixel values at the same wavelength. Optimal extraction weights each pixel by its S/N, estimated using the spatial profile of a bright calibration star and data uncertainties. Additionally, the optimal-extraction calculations are performed in “rectified” space, and so a natural by-product of the processing is a useful output file containing the rectified image. The optimal-extraction technique is unsuitable for extended sources and best only for point sources

Spitzer IRS Pipelines for General Users

An effort is underway to make the Spitzer InfraRed Spectrograph (IRS) data-processing pipelines available for use by astronomers worldwide. This will allow users to reprocess raw data downloaded from the Spitzer archive with customized calibration files, updated operational parameters, and/or a modified list of processing steps. The pipelines will create all standard BCD (basic calibrated data) and post-BCD products, plus additional intermediate products. The pipelines will be made up of newly developed Perl and C-shell ``executive'' scripts, plus the binary-executable modules currently used in operations (the modules' source code will not be distributed, however). The scripts are being designed for ease of use and will facilitate user-customization. The operating systems targeted for support are Mac OS X, Linux, Solaris, and possibly Windows