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

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. (1981, c. 919, s. 1.)

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Last modified: March 23, 2014