Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
N.C. Gen. Stat. § 41-41
Registration in beneficiary form; sole or joint tenancy ownership
Known as the Uniform TOD Security Registration Act
The act spans §§ 41–41 (12 sections).
2005-411, 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.