State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_29 > GS_29-2

§29‑2.  Definitions.

As used in this Chapter,unless the context otherwise requires, the term:

(1)        "Advancement"means an irrevocable inter vivos gift of property, made by an intestate donorto any person who would be his heir or one of his heirs upon his death, andintended by the intestate donor to enable the donee to anticipate hisinheritance to the extent of the gift; except that no gift to a spouse shall beconsidered an advancement unless so designated by the intestate donor in awriting signed by the donor at the time of the gift.

(2)        "Estate"means all the property of a decedent, including but not limited to:

a.         An estate for thelife of another; and

b.         All future interestsin property not terminable by the death of the owner thereof, including allreversions, remainders, executory interests, rights of entry and possibilitiesof reverter, subject, however, to all limitations and conditions imposed uponsuch future interests.

(3)        "Heir"means any person entitled to take real or personal property upon intestacyunder the provisions of this Chapter.

(4)        "Linealdescendants" of a person means all children of such person and successivegenerations of children of such children.

(5)        "Netestate" means the estate of a decedent, exclusive of family allowances,costs of administration, and all lawful claims against the estate.

(6)        "Share,"when used to describe the share of a net estate or property which any person isentitled to take, includes both the fractional share of the personal propertyand the undivided fractional interest in the real property, which the person isentitled to take. (1959, c. 879, s. 1; 1961, c. 958, s. 1.)