North Carolina § 40A-69 Property subject to life tenancy

North Carolina Statutes

§ 40A-69 — Property subject to life tenancy

North Carolina·Ch. 40A Eminent Domain·Art. 4 Just Compensation

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;

(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

(4)Any other equitable arrangement be carried out.

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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;
(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
(4) Any other equitable arrangement be carried out.

North Carolina § 40A-69 (Property subject to life tenancy) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.