North Carolina General Statutes 28A-24-3. Co-owners with right of survivorship; requirement of survival by 120 hours
Except as otherwise provided in this Article:
(1) If there are two or more co-owners with right of survivorship and it is not established by clear and convincing evidence that at least one of them survived the other or others by at least 120 hours, then, unless the governing instrument provides otherwise, each co-owner’s pro rata interest in the property passes as if that co-owner had survived all other co-owners by at least 120 hours.
Terms Used In North Carolina General Statutes 28A-24-3
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
(2) If there are two or more co-owners with right of survivorship and it is established by clear and convincing evidence that at least one of them survived the other or others by at least 120 hours, then, unless the governing instrument provides otherwise, the pro rata interest or interests of the deceased owner or owners who are not established by clear and convincing evidence to have survived by at least 120 hours passes to (i) the remaining owner if only one or (ii) if more than one, then to those remaining owners according to the pro rata interest of each. (1947, c. 1016, s. 3; 1973, c. 1329, s. 3; 2007-132, s. 1; 2012-69, s. 1.)