N.C. Gen. Stat. § 28A-15-3
Nonexoneration of encumbered property
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
When real or personal property subject to any lien or security interest, except judgment liens, is specifically devised, the devisee takes the property subject to the encumbrance and without a right to have other assets of the decedent applied to discharge the secured obligation, unless an express provision of the will confers such right of exoneration. A general testamentary direction to pay the debts of the decedent is not sufficient to confer such right.
When real or personal property subject to any lien or security interest, except judgment liens, is specifically devised, the devisee takes the property subject to the encumbrance and without a right to have other assets of the decedent applied to discharge the secured obligation, unless an express provision of the will confers such right of exoneration. A general testamentary direction to pay the debts of the decedent is not sufficient to confer such right.
History
(1973, c. 1329, s. 3.)
Legal Periodicals. - For article on installment land contracts in North Carolina, see 3 Campbell L. Rev. 29 (1981).
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.