§ 41-70 – Definitions.
41-70. Definitions. For the purposes of this Article, the following definitions apply: (1) Conveyance. – A transfer of title to real or personal property by deed, devise, assignment, or other means of transferring title. (2) Termination. – A severance of the right of survivorship resulting in the creation of a tenancy in common as provided […]
§ 41-71 – Creation of a joint tenancy with right of survivorship.
41-71. Creation of a joint tenancy with right of survivorship. (a) A conveyance to two or more persons creates a tenancy in common unless a joint tenancy with right of survivorship is created as provided in subsection (b) of this section or a tenancy by the entirety is created as provided by the law governing […]
§ 41-72 – Determination of the interests of joint tenants in a joint tenancy with right of survivorship.
41-72. Determination of the interests of joint tenants in a joint tenancy with right of survivorship. (a) The interests of joint tenants in a joint tenancy with right of survivorship shall be deemed to be equal unless otherwise provided in the instrument of conveyance. (b) This section shall apply to any conveyance of an interest […]
§ 41-73 – Termination of a joint tenancy with right of survivorship.
41-73. Termination of a joint tenancy with right of survivorship. (a) Events terminating a joint tenancy with right of survivorship due to the collective action of all joint tenants include the following: (1) The conveyance to a third party by all of the joint tenants of all of their interests in the property held in […]
§ 41-74 – Application of 120-hour survival requirement to joint tenancy with right of survivorship.
41-74. Application of 120-hour survival requirement to joint tenancy with right of survivorship. The provisions of G.S. 28A-24-3 apply to joint tenancy interests among two or more joint tenants holding property in joint tenancy with right of survivorship upon the death of one or more of the joint tenants. (1784, c. 204, s. 6; R.C., […]
§ 41-75 – Inapplicability of Article.
41-75. Inapplicability of Article. This Article does not apply to any of the following: (1) Executors or trustees in their representative capacity. (2) Partnerships governed by Chapter 59 of the General Statutes. (3) Business entities. (4) Accounts established under G.S. 41-2.1 or G.S. 41-2.2 to the extent inconsistent with the provisions of this Article. (5) […]
§ 41-57 – Presumption of gift by spouse furnishing consideration.
41-57. Presumption of gift by spouse furnishing consideration. Except for purposes of equitable distribution as provided under G.S. 50-20 and G.S. 50-21, when an individual furnishing the consideration for real property causes title to be placed in the name of the individual and the individual’s spouse, there is a presumption of a gift to the […]
§ 41-76 – Common law of joint tenancy; equitable principles.
41-76. Common law of joint tenancy; equitable principles. The common law of joint tenancy with right of survivorship and principles of equity supplement this Article except to the extent it conflicts or is inconsistent with a provision of this Article or the laws of this State. (2020-50, s. 2(a), (c).)
§ 41-58 – Possession and control of entireties property.
41-58. Possession and control of entireties property. (a) Spouses shall have an equal right to the control, use, possession, and income from property held by them as tenants by the entirety. (b) Neither spouse may bargain, sell, lease, mortgage, transfer, convey, sign, pay out, or in any manner encumber any property held by them as […]
§ 41-77 – Citation to prior statutes.
41-77. Citation to prior statutes. A citation to a former statute recodified in Article 5 of Chapter 41 of the General Statutes, whether made before or after adoption of Article 5, shall be deemed to be a citation to the recodified statute, unless application of this rule of construction would substantially impair the rights of […]