reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-2.2 - Joint ownership of securities.

§ 41-2.2. 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 securities indicate that they are owned with the right of survivorship, or otherwise clearly indicate an intention that upon the death of either party the interest of the decedent shall pass to the surviving party.
(2) Such a joint tenancy may also exist when a broker or custodian holds the securities for the joint tenants and by book entry or otherwise indicates (i) that the securities are owned with the right of survivorship, or (ii) otherwise clearly indicates that upon the death of either party, the interest of the decedent shall pass to the surviving party. Money in the hands of such broker or custodian derived from the sale of, or held for the purpose of, such securities shall be treated in the same manner as such securities.
(c) Upon the death of a joint tenant his interest shall pass to the surviving joint tenant. The interest of the deceased joint tenant, even though it has passed to the surviving joint tenant, remains liable for the debts of the decedent in the same manner as the personal property included in his estate, and recovery thereof shall be made from the surviving joint tenant when the decedent's estate is insufficient to satisfy such debts.
(d) This section does not repeal or modify any provisions of the law relating to estate or inheritance taxes.
(e) As used in this section, "securities" has the same meaning as in G.S. 41-40(9) and includes "security account" as that term is defined in G.S. 41-40(10). (1967, c. 864, s. 1; 1969, c. 1115, s. 2; 1989 (Reg. Sess., 1990), c. 891, s. 2; 1998-69, s. 12; 1999-337, s. 10; 2005-411, s. 3.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › §§ 41-2.5: Recodified as G.S. 41-56(d) by Session Laws 2020-50, s. 1(b), effective June 30, 2020.

§ 41-2.5: Recodified as G.S. 41-56(d) by Session Laws 2020-50, s. 1(b), effective June 30, 2020.
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-3 - Survivorship among trustees.

§ 41-3. 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 event of the death of his cotrustee or cotrustees or the refusal or inability of the cotrustee or cotrustees to perform the trust; and in cases of trusts herein named the trustees shall hold as joint tenants, and in all respects as joint tenants held before the year 1784. (1885, c. 327, s. 1; Rev., s. 1580; C.S., s. 1736.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-4 - Limitations on failure of issue.

§ 41-4. 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 effect when such person dies not having such heir, or issue, or child, or offspring, or descendant, or other relative (as the case may be) living at the time of his death, or born to him within 10 lunar months thereafter, unless the intention of such limitation be otherwise, and expressly and plainly declared in the face of the deed or will creating it: Provided, that the rule of construction contained in this section shall not extend to any deed or will made and executed before the fifteenth of January, 1828. (1827, c. 7; R.C., c. 43, s. 3; Code, s. 1327; Rev., s. 1581; C.S., s. 1737.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-5 - Unborn infant may take by deed or writing.

§ 41-5. 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.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6 - "Heirs" construed to be "children" in certain limitations.

§ 41-6. "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.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6.1 - Meaning of "next of kin."

§ 41-6.1. 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.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6.2 - Doctrine of worthier title abolished.

§ 41-6.2. 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, by a grant or devise to the grantor's or testator's own heirs or next of kin, to transfer an interest to them. The meaning of a grant or devise of a legal or equitable interest to a grantor's or testator's own heirs or next of kin, however designated, shall be determined by the general rules applicable to the interpretation of grants or wills.
(b) Subdivision (a)(i) of this section shall apply to all revocable trusts in existence as of February 26, 1979 and to all instruments, including revocable trusts, becoming effective after February 26, 1979, and subdivision (a)(ii) of this section shall apply to all instruments in existence as of February 26, 1979 and to all instruments becoming effective after February 26, 1979. If the application of this section to any instrument is held invalid, its application to other instruments to which it may validly be applied shall not be affected thereby. (1979, c. 88, s. 1; 2011-284, s. 49.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6.3 - Rule in Shelley's case abolished.

§ 41-6.3. 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.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6.4 - Rule in Dumpor's Case abolished.

§ 41-6.4. 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.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-6.5 - Common-law rule against perpetuities abolished.

§ 41-6.5. 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 October 1, 1995. This section clarifies the intent of the General Assembly to abolish the common-law rule against perpetuities when it enacted Chapter 190 of the 1995 Session Laws, which enacted the Uniform Statutory Rule Against Perpetuities. (2022-64, s. 3(a).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-7 - Possession transferred to use in certain conveyances.

§ 41-7. 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 covenanter shall be deemed to be transferred to the bargainee, releasee, or person entitled to the use, for the estate or interest which such person shall have in the use, as perfectly as if the bargainee, releasee or person entitled to the use had been enfeoffed at common law with livery of seizin of the land intended to be conveyed by such deed or covenant. (27 Hen. VIII, c. 10; R.C., c. 43, s. 6; Code, s. 1330; Rev., s. 1584; C.S., s. 1740.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-8 - Collateral warranties abolished; warranties by life tenants deemed covenants.

§ 41-8. 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 aforesaid, shall be deemed covenants only, and bind the covenanter in like manner as other obligations. (4 Anne, c. 16, s. 21; 1852, c. 16; R.C., c. 43, s. 10; Code, s. 1334; Rev., s. 1587; C.S., s. 1741.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-10 - Titles quieted.

§ 41-10. 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 within the two years preceding, and who at the death of such plaintiff might have or claim to have an interest in his or her estate, and a decree for the plaintiff shall debar all claims of the defendant in the property of the plaintiff then owned or afterwards acquired: Provided, that no such relief shall be granted against such husband or wife or alleged wife or husband, except in case the summons in said action is personally served on such defendant.
If the defendant in such action disclaim in his answer any interest or estate in the property, or suffer judgment to be taken against him without answer, the plaintiff cannot recover costs. In any case in which judgment has been or shall be docketed, whether such judgment is in favor of or against the person bringing such action, or is claimed by him, or affects real estate claimed by him, or whether such judgment is in favor of or against the person against whom such action may be brought, or is claimed by him, or affects real estate claimed by him, the lien of said judgment shall be such claim of an estate or interest in real estate as is contemplated by this section. (1893, c. 6; 1903, c. 763; Rev., s. 1589; 1907, c. 888; C.S., s. 1743.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-10.1 - Trying title to land where State claims interest.

§ 41-10.1. 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 corporation may bring an action in the superior court of the county in which the land lies against the State or such agency or department thereof for the purpose of determining such adverse claims. Provided, however, that this section shall not apply to lands which have been condemned or taken for use as roads or for public buildings. (1957, c. 514.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-11.2 - Sale of standing timber; life estate.

§ 41-11.2. 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. (2020-23, s. 14.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-12 - Sales or mortgages of contingent remainders validated.

§ 41-12. 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 trust, of such property discharged of such contingent remainder, executory devise, or other limitations in actions or special proceedings where all persons in being who would have taken such property if the contingency had then happened were parties, such judgment shall be valid and binding upon the parties thereto and upon all other persons not then in being or whose estates had not been vested: Provided, that nothing herein contained shall be construed to impair or destroy any vested right or estate. (1905, c. 93; Rev., s. 1591; C.S., s. 1745; 1923, c. 64; 1935, c. 36.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 1 - Survivorship Rights and Future Interests. › § 41-13 - Freeholders in petition for special taxes defined.

§ 41-13. 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 sex, shall be deemed freeholders within the meaning of such requirement. (1915, c. 22; C.S., s. 1746.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-15 - Statutory rule against perpetuities.

§ 41-15. 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 general power of appointment not presently exercisable because of a condition precedent is invalid unless:
(1) When the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of an individual then alive; or
(2) The condition precedent either is satisfied or becomes impossible to satisfy within 90 years after its creation.
(c) A nongeneral power of appointment or a general testamentary power of appointment is invalid unless:
(1) When the power is created, it is certain to be irrevocably exercised or otherwise to terminate no later than 21 years after the death of an individual then alive; or
(2) The power is irrevocably exercised or otherwise terminates within 90 years after its creation.
(d) In determining whether a nonvested property interest or a power of appointment is valid under subdivision (a)(1), (b)(1), or (c)(1) of this section, the possibility that a child will be born to an individual after the individual's death is disregarded.
(e) If, in measuring a period from the creation of a property arrangement, language in a governing instrument:
(1) Seeks to disallow the vesting or termination of any interest beyond,
(2) Seeks to postpone the vesting or termination of any interest until, or
(3) Seeks to operate in effect in any similar fashion upon, the later of (i) the expiration of a period of time not exceeding 21 years after the death of the survivor of specified lives in being at the creation of the property arrangement or (ii) the expiration of a period of time that exceeds or might exceed 21 years after the death of the survivor of lives in being at the creation of the property arrangement, that language is inoperative to the extent it produces a period of time that exceeds 21 years after the death of the survivor of the specified lives. (1995, c. 190, s. 1; 2007-390, s. 2; 2021-85, s. 3(a).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-16 - When nonvested property interest or power of appointment created.

§ 41-16. 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 Article, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (i) a nonvested property interest or (ii) a property interest subject to a power of appointment described in G.S. 41-15(b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(c) For purposes of this Article, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created. (1995, c. 190, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-17 - Reformation.

§ 41-17. 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 appointment becomes invalid under G.S. 41-15;
(2) A class gift is not invalid under G.S. 41-15, but might become invalid under G.S. 41-15, and the time has arrived when the share of any class is to take effect in possession or enjoyment; or
(3) A nonvested property interest that is not validated by G.S. 41-15(a)(1) can vest but not within 90 years after its creation. (1995, c. 190, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-18 - Exclusions from statutory rule against perpetuities.

§ 41-18. 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 or postmarital agreement.
b. A separation or divorce settlement.
c. A spouse's election.
d. A similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties.
e. A contract to make or not to revoke a will or trust.
f. A contract to exercise or not to exercise a power of appointment.
g. A transfer in satisfaction of a duty of support.
h. A reciprocal transfer.
(2) A fiduciary's power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income.
(3) A power to appoint a fiduciary.
(4) A discretionary power of a trustee to distribute principal before termination of a trust to a beneficiary having an indefeasibly vested interest in the income and principal.
(5) A nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision.
(6) A nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit-sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse.
(7) A property interest, power of appointment, or arrangement that was not subject to the common-law rule against perpetuities or is excluded by another statute of this State.
(8) A property interest or arrangement subjected to a time limit under G.S. 36C-4-408 or G.S. 36C-4-409.
(9) A property interest or arrangement subjected to a time limit under Article 3 of this Chapter, "Time Limits on Options in Gross and Certain Other Interests in Land."
(10) A nonvested property interest in or a power of appointment over property or property interests of a trust to which G.S. 41-23 applies. (1995, c. 190, ss. 1-3; 2021-85, s. 3(b).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-19 - Prospective application.

§ 41-19. Prospective application.
(a) Except as extended by subsection (b) of this section, this Article applies to a nonvested property interest or a power of appointment that is created on or after October 1, 1995. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.
(b) If a nonvested property interest or a power of appointment was created prior to October 1, 1995, and is determined in a judicial proceeding, commenced on or after October 1, 1995, to violate this State's rule against perpetuities as that rule existed before October 1, 1995, a court upon the petition of an interested person may reform the disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the limits of the rule against perpetuities applicable when the nonvested property interest or power of appointment was created. (1995, c. 190, s. 1; 1997, c. 456, s. 8.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-21 - Uniformity of application and construction.

§ 41-21. Uniformity of application and construction.
This Article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this Article among states enacting it. (1995, c. 190, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 2 - Uniform Statutory Rule Against Perpetuities. › § 41-23 - Perpetuities and suspension of power of alienation for trusts.

§ 41-23. Perpetuities and suspension of power of alienation for trusts.
(a) A trust is void if it suspends the power of alienation of trust property, as that term is defined in G.S. 36C-1-103, for longer than the permissible period. The permissible period is no later than 21 years after the death of an individual then alive or lives then in being plus a period of 21 years.
(b) If the settlor of a revocable trust, as those terms are defined in G.S. 36C-1-103, has an unlimited power to revoke or amend the trust, the permissible period under subsection (a) of this section is computed from the termination of that power.
(c) If a trust is created by exercise of a power of appointment, the permissible period under subsection (a) of this section is computed from the time the power is exercised if the power is a general power even if the power is only exercisable as a testamentary power. In the case of other powers, the permissible period is computed from the time the power is created, but facts at the time the power is exercised shall be considered in determining whether the power of alienation is suspended beyond a life or lives in being at the time of the creation of the power plus 21 years.
(d) The power of alienation is suspended only when there are no persons in being who, alone or in combination with others, can convey an absolute fee in possession of land, or full ownership of personal property.
(e) Notwithstanding subsection (a) of this section, there is no suspension of the power of alienability by a trust or by equitable interests under a trust if the trustee has the power to sell, either expressed or implied, or if there exists an unlimited power to terminate the trust in one or more persons in being.
(f) This section does not apply to a transfer in trust (i) for charitable purposes, as defined in G.S. 36C-4-405; (ii) to a literary or charitable organization; (iii) to a veterans' memorial organization; (iv) to a cemetery corporation, society, or association; or (v) as part of a pension, retirement, insurance, savings, stock bonus, profit sharing, death, disability, or similar plan established by an employer for the benefit of some or all of its employees for the purpose of accumulating and distributing to such employees the earnings or the principal, or both earnings and principal, of the trust.
(g) This section does not apply to a future interest other than a future interest in trust and, other than as set forth in this section, this section does not modify the common law of the State regarding the power of alienation in this State.
(h) The provisions of G.S. 41-15, the common law rule against perpetuities, and the common law rule against accumulations do not apply to trusts created or administered in this State. (2007-390, s. 1; 2014-107, s. 5.1; 2017-102, s. 32(a).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-28 - Definitions.

§ 41-28. Definitions.
As used in this Article:
(1) "Nonvested easement in gross" means a nonvested easement which is not created to benefit or which does not benefit the possessor of any tract of land in his or her use of it as the possessor.
(2) "Option in gross with respect to an interest in land" means an option in which the holder of the option does not own any leasehold or other interest in the land which is the subject of the option.
(3) "Preemptive right in the nature of a right of first refusal in gross with respect to an interest in land" means a preemptive right in which the holder of the preemptive right does not own any leasehold or other interest in the land which is the subject of the preemptive right. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-29 - Options in gross, etc.

§ 41-29. Options in gross, etc.
An option in gross with respect to an interest in land or a preemptive right in the nature of a right of first refusal in gross with respect to an interest in land becomes invalid if it is not actually exercised within 30 years after its creation. For purposes of this section, the term "interest in land" does not include arrangements relating solely to an interest in oil, gas, or minerals. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-30 - Leases to commence in the future.

§ 41-30. Leases to commence in the future.
A lease to commence at a time certain or upon the occurrence or nonoccurrence of a future event becomes invalid if its term does not actually commence in possession within 30 years after its execution. For purposes of this section, the term "lease" does not include an oil, gas, or mineral lease. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-31 - Nonvested easements.

§ 41-31. Nonvested easements.
A nonvested easement in gross becomes invalid if it does not actually vest within 30 years after its creation. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-32 - Possibilities of reverter, etc.

§ 41-32. Possibilities of reverter, etc.
(a) Except as otherwise provided in this section:
(1) A possibility of reverter preceded by a fee simple determinable;
(2) A right of entry preceded by a fee simple subject to a condition subsequent; or
(3) An executory interest preceded by either a fee simple determinable or a fee simple subject to an executory limitation;
becomes invalid, and the preceding fee simple becomes a fee simple absolute, if the right to vest in possession of the possibility of reverter, right of entry, or executory interest depends on an event or events affecting the use of land and if the possibility of reverter, right of entry, or executory interest does not actually vest in possession within 60 years after its creation.
(b) This section does not apply to a possibility of reverter, right of entry, or executory interest held by a charity, a government or governmental agency or subdivision excluded from the Uniform Statutory Rule Against Perpetuities by G.S. 41-18(5) or to an arrangement relating solely to an interest in oil, gas, or minerals. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land. › § 41-33 - Prospective application.

§ 41-33. Prospective application.
This Article applies only to a property interest or arrangement that is created on or after October 1, 1995. (1995, c. 525, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-40 - Definitions.

§ 41-40. Definitions.
In this Article, unless the context otherwise requires:
(1) "Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
(2) "Devisee" means any person designated in a will to receive a disposition of real or personal property.
(3) "Heirs" means those persons, including the surviving spouse, who are entitled under Chapter 29 of the General Statutes or the statutes of intestate succession of other states to take the property of a decedent by intestate succession.
(4) "Person" means an individual, a corporation, an organization, or other legal entity.
(5) "Personal representative" includes executor, administrator, collector, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status.
(6) "Property" includes both real and personal property or any interest in real or personal property and means anything that may be the subject of ownership.
(7) "Register", including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
(8) "Registering entity" means a person who originates or transfers a security title by registration and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
(9) "Security" means a share, participation, or other interest in property, a business, or an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, a security account, and a security entitlement as defined in G.S. 25-8-102.
(10) "Security account" means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.
(11) "State" includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-41 - Registration in beneficiary form; sole or joint tenancy ownership.

§ 41-41. Registration in beneficiary form; sole or joint tenancy ownership.
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-42 - Registration in beneficiary form; applicable law.

§ 41-42. Registration in beneficiary form; applicable law.
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-43 - Origination of registration in beneficiary form.

§ 41-43. Origination of registration in beneficiary form.
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-44 - Form of registration in beneficiary form.

§ 41-44. Form of registration in beneficiary form.
Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD", or by the words "pay on death" or the abbreviation "POD", after the name of the registered owner or owners and before the name of a beneficiary. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-45 - Effect of registration in beneficiary form.

§ 41-45. Effect of registration in beneficiary form.
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership of the security until the owner's death. A registration of a security in beneficiary form may be cancelled or changed at any time by the sole owner or all then-surviving owners, without the consent of the beneficiary. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-46 - Ownership on death of owner.

§ 41-46. Ownership on death of owner.
On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survive the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-47 - Protection of registering entity.

§ 41-47. Protection of registering entity.
(a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this Article.
(b) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this Article.
(c) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of a security in accordance with G.S. 41-46 and does so in good faith reliance (i) on the registration, (ii) on this Article, and (iii) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representatives, or other information available to the registering entity. The protections of this Article do not extend to a reregistration or payment made after a registering entity has received written notice, addressed to the registering entity, from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this Article.
(d) The protection provided by this Article to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds. (2005-411, s. 1; 2006-226, s. 11.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-48 - Nontestamentary transfer on death.

§ 41-48. Nontestamentary transfer on death.
(a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this Article and is not testamentary.
(b) The interest of a deceased owner when there are one or more surviving owners remains liable for the debts of the decedent in the same manner as the personal property included in the decedent's estate, and recovery of that interest shall be made from the surviving owner or owners when the decedent's estate is insufficient to satisfy the debts. The interest of a deceased sole owner, or the last to die of several owners, remains liable for the debts of the decedent in the same manner as the personal property included in the decedent's estate, and recovery of that interest shall be made from the TOD beneficiary when the decedent's estate is insufficient to satisfy the debts.
(c) This Article does not repeal or modify any provision of law relating to estate taxes. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-49 - Terms, conditions, and forms for registration.

§ 41-49. Terms, conditions, and forms for registration.
(a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (i) for registrations in beneficiary form, and (ii) for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary. The terms and conditions established may provide for proving death, avoiding or resolving any problems concerning fractional shares, and designating primary or contingent beneficiaries. Forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity's terms and conditions.
(b) The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
(1) Sole owner-sole beneficiary: "John S. Brown TOD (or POD) John S. Brown, Jr."
(2) Multiple owners-sole beneficiary: "John S. Brown, Mary B. Brown JT TEN WROS TOD John S. Brown, Jr."
(3) Multiple owners-primary and secondary (substituted) beneficiaries: "John S. Brown, Mary B. Brown JT TEN WROS TOD John S. Brown, Jr. SUB BENE Peter O. Brown". (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-50 - Short title; rules of construction.

§ 41-50. Short title; rules of construction.
(a) This Article shall be known as and may be cited as the "Uniform TOD Security Registration Act".
(b) This Article shall be applied and construed to effectuate its general purposes and to make uniform the laws with respect to the subject of this Article among states enacting it.
(c) This Article does not repeal G.S. 41-2.2. G.S. 41-2.2 applies in determining whether a right of survivorship exists among multiple owners of a security. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 4 - The Uniform Transfer on Death (TOD) Security Registration Act. › § 41-51 - Application of Article.

§ 41-51. Application of Article.
This Article applies to registrations of securities in beneficiary form made before, on, or after October 1, 2005, by decedents dying on or after October 1, 2005. (2005-411, s. 1.)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 5 - Tenancy by the Entirety. › § 41-55 - Definitions.

§ 41-55. Definitions.
For the purposes of this Article, the following definitions apply:
(1) Conveyance. – A transfer of title to real property by deed or devise or other instrument transferring title to real property.
(2) Income. – Rents and profits from property held as tenants by the entirety.
(3) Spouses. – Two individuals then legally married to each other. (2020-50, s. 1(a), (c).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 5 - Tenancy by the Entirety. › § 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 individual's spouse of an entirety interest, which is rebuttable by clear, cogent, and convincing evidence. (2020-50, s. 1(a), (c).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 5 - Tenancy by the Entirety. › § 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 tenants by the entirety without the written joinder of the other spouse. This section shall not be construed to require the spouse's joinder where a different provision is made under G.S. 41-56(b), G.S. 41-63(4), G.S. 39-13, G.S. 39-13.3, G.S. 39-13.4, or G.S. 52-10.
(c) The mortgage or sale of an interest in real property held by spouses as tenants by the entirety where one or both spouses is incompetent is governed by the provisions of Article 15 of Chapter 35A of the General Statutes. (1981 (Reg. Sess., 1982), c. 1245, s. 1; 1983, c. 449, ss. 1, 2; 2020-50, s. 1(a)-(c).)
2023 North Carolina General Statutes › Chapter 41 - Estates › Article 5 - Tenancy by the Entirety. › § 41-59 - Income derived from entireties property.

§ 41-59. Income derived from entireties property.
(a) Income derived from property held by spouses as tenants by the entirety becomes personal property held by the spouses as tenants in common in equal shares.
(b) For income tax purposes, each spouse is considered to have received one-half the income or loss from property held by the spouses as tenants by the entirety. (1981 (Reg. Sess., 1982), c. 1245, s. 1; 1983, c. 449, ss. 1, 2; 2020-50, s. 1(a)-(c).)