North Carolina § 31C-7 Purchaser for value or lender

North Carolina Statutes

§ 31C-7 — Purchaser for value or lender

North Carolina·Ch. 31C Uniform Disposition of Community Property Rights at Death Act

(a)If a surviving spouse has apparent title to property to which this Chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.

(b)If a personal representative or an heir or devisee of the decedent has apparent title to property to which this Chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.

(c)A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.

(d)The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transfer

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(a) If a surviving spouse has apparent title to property to which this Chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.
(b) If a personal representative or an heir or devisee of the decedent has apparent title to property to which this Chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.
(c) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(d) The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender. (1981, c. 882, s. 1.)

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