N.C. Gen. Stat. § 40A-69
Property subject to life tenancy
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
If the property taken is subject to a life tenancy, the commissioners, the jury, or the judge may include in the judgment a requirement that:
If the property taken is subject to a life tenancy, the commissioners, the jury, or the judge may include in the judgment a requirement that:
(1) The award be apportioned and distributed on the basis of the respective values of the interests of the life tenant and remainderman;
(1) The award be apportioned and distributed on the basis of the respective values of the interests of the life tenant and remainderman;
(2) The compensation be used to purchase comparable property to be held subject to the life tenancy;
(2) The compensation be used to purchase comparable property to be held subject to the life tenancy;
(3) The compensation be held in trust and administered subject to the terms of the instrument that created the life tenancy; or
(3) The compensation be held in trust and administered subject to the terms of the instrument that created the life tenancy; or
(4) Any other equitable arrangement be carried out.
(4) Any other equitable arrangement be carried out.
History
(1981, c. 919, s. 1.)
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.