Bill Summary for S 451 (2017-2018)
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Summary date:
Apr 25 2017
Bill Information:
View NCGA Bill Details(link is external) | 2017-2018 Session |
AN ACT TO REPLACE AND CLARIFY THE GENERAL STATUTES PERTAINING TO THE CREATION AND SEVERANCE OF JOINT TENANCY WITH RIGHT OF SURVIVORSHIP PERTAINING TO REAL PROPERTY.Intro. by Newton, Daniel.
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Bill summary
Senate committee substitute makes the following changes to the 1st edition.
Amends proposed GS 41-2.3(h), which specifies three events that do not result in severance of joint tenancy with right of survivorship. Makes a technical change to the provision specifying that when married individuals who hold an interest as tenants by the entirety in a joint tenancy with one or more individuals' divorce, the divorced individuals hold their existing interest equally as joint tenants unless the divorced individuals agree otherwise.