CO-OWNERS/UNEQUAL SHARES/SIMULTANEOUS DEATH.

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View NCGA Bill Details2011-2012 Session
Senate Bill 845 (Public) Filed Monday, May 21, 2012
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)

Bill History:

S 845

Bill Summaries:

  • Bill S 845 (2011-2012)
    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).

    Civil Law
    GS 28A, GS 41
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