North Carolina General Statutes 41-74. Application of 120-hour survival requirement to joint tenancy with right of survivorship
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Terms Used In North Carolina General Statutes 41-74
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
The provisions of N.C. Gen. Stat. § 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., c. 43, s. 2; Code, s. 1326; Rev., s. 1579; C.S., s. 1735; 1945, c. 635; 1989 (Reg. Sess., 1990), c. 891, s. 1; 1991, c. 606, s. 1; 2009-268, s. 1; 2010-96, s. 9; 2012-69, s. 2; 2013-204, s. 1.11; 2020-50, s. 2(a)-(c).)