North Carolina § 41-59 Income derived from entireties property

North Carolina Statutes

§ 41-59 — Income derived from entireties property

North Carolina § 41-59

Ch. 41Estates

Art. 5Tenancy by the Entirety

This text of North Carolina § 41-59 (Income derived from entireties property) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 41-59 (2026).

Text

(a)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.

(b)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. (1981 (Reg. Sess., 1982), c. 1245, s. 1; 1983, c. 449, ss. 1, 2; 2020-50, s. 1(a)-

(c).)

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(a) 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.
(b) 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. (1981 (Reg. Sess., 1982), c. 1245, s. 1; 1983, c. 449, ss. 1, 2; 2020-50, s. 1(a)-(c).)