Bill > S217

This bill codifies the law of tenancy in common in North Carolina, as recommended by the North Carolina Bar Association. It defines key terms like "actual ouster" and "constructive ouster," outlines the nature and creation of a tenancy in common, and addresses issues such as possession of the property, authority of tenants, rents and profits, reimbursement, adverse possession, alienation of interests, obligations among tenants, acquisition of title, rights of creditors, actions against third parties, and termination of the tenancy. The bill also clarifies that the common law of tenancy in common and principles of equity supplement the new statutory provisions, except where they conflict with the law.

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https://www.ncleg.gov/BillLookUp/2023/S217