N.C. Gen. Stat. § 41-59
Income derived from entireties property
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Income derived from property held by spouses as tenants by the entirety becomes personal property held by the spouses as tenants in common in equal shares.
(1) Income derived from property held by spouses as tenants by the entirety becomes personal property held by the spouses as tenants in common in equal shares.
(2) For income tax purposes, each spouse is considered to have received one-half the income or loss from property held by the spouses as tenants by the entirety.
(2) For income tax purposes, each spouse is considered to have received one-half the income or loss from property held by the spouses as tenants by the entirety.
History
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.