Amends GS 28A-24-3 to provide that if there are two or more co-owners with right of survivorship and (1) it is not established that at least one of them survived the other(s) by at least 120 hours, then each co-owner’s pro rata interest passes as if the co-owner had survived all other(s) by at least 120 hours and (2) it is established that at least one of them survived the other(s) by at least 120 hours, then the pro rata interest of the deceased who are not established to have survived by at least 120 hours passes to the remaining owner, or if there is more than one, to the remaining owners according to their pro rata interest. Makes a conforming change to GS 41-2(b).
CO-OWNERS/UNEQUAL SHARES/SIMULTANEOUS DEATH.
|View NCGA Bill Details||2011-2012 Session|
TO CONFORM THE LAW GOVERNING CO-OWNERS WITH RIGHT OF SURVIVORSHIP UNDER THE SIMULTANEOUS DEATH ACT TO THE LAW GOVERNING THE HOLDING OF UNEQUAL SHARES IN A JOINT TENANCY WITH RIGHT OF SURVIVORSHIP, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION.Intro. by Hartsell.
Status: Ref To Com On Judiciary I (Senate Action) (May 22 2012)
Mon, 21 May 2012 Senate: Filed
Tue, 22 May 2012 Senate: Passed 1st Reading
Tue, 22 May 2012 Senate: Ref To Com On Judiciary I
Bill S 845 (2011-2012)Summary date: May 21 2012 - View Summary