North Carolina · statute · N.C. Gen. Stat. ch. 41 · 85 active provisions
Fee tail converted into fee simple. Every person seized of an estate in tail shall be deemed to be seized of the same in fee simple. (1784, c. 204, s. 5; R.C., c. 43, s. 1; Code, s. 1325; Rev., s. 1578; C.S., s. 1734; 1995, c. 190, s. 1; c. 525, s. 1.)
Right of survivorship in bank deposits created by written agreement. (a) A deposit account may be established with a banking institution in the names of two or more persons, payable to either or the survivor or survivors, with incidents as provided by subsection (b) of this section, when both or all parties have signed…
Joint ownership of securities. (a) In addition to other forms of ownership, securities may be owned by any parties as joint tenants with rights of survivorship, and not as tenants in common, in the manner provided in this section. (b) (1) A joint tenancy in securities as provided by this section shall exist when such s…
Survivorship among trustees. In all cases where only a naked trust not coupled with a beneficial interest has been created or exists, or shall be created, and the conveyance is to two or more trustees, the right to perform the trust and make estates under the same shall be exercised by any one of such trustees, in the…
Limitations on failure of issue. Every contingent limitation in any deed or will, made to depend upon the dying of any person without heir or heirs of the body, or without issue or issues of the body, or without children, or offspring, or descendant, or other relative, shall be held and interpreted a limitation to take…
Unborn infant may take by deed or writing. An infant unborn, but in esse, shall be deemed a person capable of taking by deed or other writing any estate whatever in the same manner as if he were born. (R.C., c. 43, s. 4; Code, s. 1328; Rev., s. 1582; C.S., s. 1738.)
"Heirs" construed to be "children" in certain limitations. A limitation by deed, will, or other writing, to the heirs of a living person, shall be construed to be to the children of such person, unless a contrary intention appear by the deed or will. (R.C., c. 43, s. 5; Code, s. 1329; Rev., s. 1583; C.S., s. 1739.)
Meaning of "next of kin." A limitation by deed, will, or other writing, to the "next of kin" of any person shall be construed to be to those persons who would take under the law of intestate succession, unless a contrary intention appears by the instrument. (1967, c. 948.)
Doctrine of worthier title abolished. (a) The law of this State does not include: (i) the common-law rule of worthier title that a grantor or testator cannot convey or devise an interest to the grantor's or testator's own heirs, or (ii) a presumption or rule of interpretation that a grantor or testator does not intend,…
Rule in Shelley's case abolished. (a) The rule of property known as the rule in Shelley's case is abolished. (b) This section shall become effective October 1, 1987, and applies to transfers of property that take effect on or after that date. (1987, c. 706, s. 1.)
Rule in Dumpor's Case abolished. (a) The rule of property known as the Rule in Dumpor's Case is abolished. (b) This section shall become effective October 1, 2012, and applies to transfers of property that take effect on or after that date. (2012-163, s. 1.)
Common-law rule against perpetuities abolished. (a) The rule of the common law known as the rule against perpetuities is abolished. (b) Article 2 of this Chapter sets out the Uniform Statutory Rule Against Perpetuities. (c) This section applies to a property interest or a power of appointment created on or after Octobe…
Possession transferred to use in certain conveyances. By deed of bargain and sale, or by deeds of lease and release, or by covenant to stand seized to use, or deed operating by way of covenant to stand seized to use, or otherwise, by any manner or means whatsoever it be, the possession of the bargainor, releasor, or co…
Collateral warranties abolished; warranties by life tenants deemed covenants. All collateral warranties are abolished; and all warranties made by any tenant for life of lands, tenements or hereditaments, the same descending or coming to any person in reversion or remainder, shall be void; and all such warranties, as af…
Titles quieted. An action may be brought by any person against another who claims an estate or interest in real property adverse to him for the purpose of determining such adverse claims; and by any man or woman against his or her wife or husband or alleged wife or husband who have not lived together as man and wife wi…
Trying title to land where State claims interest. Whenever the State of North Carolina or any agency or department thereof asserts a claim of title to land which has not been taken by condemnation and any individual, firm or corporation likewise asserts a claim of title to the said land, such individual, firm or corpor…
Sale, lease or mortgage in case of remainders. In all cases where there is a vested interest in real estate, and a contingent remainder over to persons who are not in being, or when the contingency has not yet happened which will determine who the remaindermen are, there may be a sale, lease or mortgage of the property…
Sale, lease or mortgage of property held by a "class," where membership may be increased by persons not in esse. (a) Wherever there is a gift, devise, transfer or conveyance of a vested estate or interest in real or personal property, or both, to persons described as a class, and at the effective date thereof, one or m…
Sale of standing timber; life estate. If real property with standing timber is subject to a life estate, the life tenant or owner of the remainder or reversionary interest may initiate a proceeding under Chapter 46A of the General Statutes to sell the timber, separate from the real property, pursuant to G.S. 46A-80. (2…
Sales or mortgages of contingent remainders validated. In all cases where property has been conveyed by deed, or devised by will, upon contingent remainder, executory devise, or other limitations, where a judgment of a superior court has been rendered authorizing the sale or mortgaging, including execution of deeds of…
Freeholders in petition for special taxes defined. In all cases where a petition by a specific number of freeholders is required as a condition precedent to ordering an election to provide for the assessment or levy of taxes upon realty, all residents of legal age owning realty for life or longer term, irrespective of…
Statutory rule against perpetuities. (a) A nonvested property interest is invalid unless: (1) When the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or (2) The interest either vests or terminates within 90 years after its creation. (b) A gene…
When nonvested property interest or power of appointment created. (a) Except as provided in subsections (b) and (c) of this section and in G.S. 41-19(a), the time for creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of this Arti…
Reformation. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 90 years allowed by G.S. 41-15(a)(2), 41-15(b)(2), or 41-15(c)(2) if: (1) A nonvested property interest or a power of…
Exclusions from statutory rule against perpetuities. G.S. 41-15 does not apply to any of the following: (1) A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of any of the following: a. A premarital o…