Bill Summaries: S845 CO-OWNERS/UNEQUAL SHARES/SIMULTANEOUS DEATH.

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  • Summary date: May 21 2012 - View Summary

    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).