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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter31C. Uniform Disposition of Community Property Rights at Death Act. |
§31C-7. Purchaser for value or lender
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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.