Bill Summary for S 336 (2015-2016)

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Summary date: 

Jun 3 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
Senate Bill 336 (Public) Filed Wednesday, March 18, 2015
AN ACT TO AMEND THE LAW GOVERNING ESTATE PLANNING AND FIDUCIARIES, TO AMEND THE UNIFORM TRUST CODE, AND TO ESTABLISH A UNIFORM POWERS OF APPOINTMENT ACT.
Intro. by Hartsell, Barringer.

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Bill summary

House committee substitute makes the following changes to the 3rd edition.

Amends proposed GS 28A-2B-1, concerning the establishment before death that a will or codicil is valid, adding new subsection (c) clarifying that the failure to use procedures provided for in GS Chapter 28A, Article 2B, Living Probate, will not have any evidentiary or procedural effect on any future probate proceedings.

Amends GS 28A-13-3(a), creating new subdivision (1a) specifying that a personal representative or fiduciary’s powers to take possession, custody, or control of a decedent’s real property is subject to the provisions of GS 28A-13-3(c), as amended in this act, or the provisions of new GS 28A-13-3.1, as enacted in this act. Provides that if the personal representative determines that such custody, possession, or control of the real property is not necessary (standard was, not in the best interest) to administer the estate, then the real property may be left with or surrendered to the heir or devisee presumptively entitled to the real property. Amends GS 28A-13-3(c) to require the personal representative to petition the clerk of court for an order authorizing possession, custody, or control of the real property, unless the authority to take possession, custody, or control of real property is granted to the personal representative under new GS 28A-13-3.1. Makes conforming and clarifying changes.

Amends Article 13 of GS Chapter 28A by adding three new statutes: (1) GS 28A-13-3.1, Power of personal representative to deal with real property without a court order; (2) GS 28A-13-3.2, Notice of exercise of power with respect to real property not devised to personal representative; and (3) GS 28A-13-3.3, Reimbursement of devisees for payment of carrying costs.

Amends GS 28A-15-1(c) to delete the requirement for the personal representative to institute a special proceeding before the clerk of court for a sale, option, exchange, partition, lease, mortgage, or other disposition of any real property under GS 28A-13-3.1.

Amends subsection (b) of GS 28A-15-2 to delineate factors and procedures regarding the vesting of title to real property of a decedent. Sets out new provisions governing options, leases, or mortgages on the decedent's property, and docketed judgments or other liens against heirs or devisees.

Amends GS 28A-22-1 to provide that the assets that remain from the sale of real property by the personal representative retain the character of real property for purposes of distributing those assets to the devisee or heir, or persons having liens against the devisee or heir only.

Amends GS 28A-23-3(b) to provide that when real property is sold for reasons other than to pay debts or devises, the proceeds from the sale are not to be considered in computing the commission for the personal representative.