State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_31C > GS_31C-7

§31C‑7.  Purchaser for value or lender.

(a)        If a survivingspouse has apparent title to property to which this Chapter applies, apurchaser for value or a lender taking a security interest in the propertytakes his interest in the property free of any rights of the personalrepresentative or an heir or devisee of the decedent.

(b)        If a personalrepresentative or an heir or devisee of the decedent has apparent title toproperty to which this Chapter applies, a purchaser for value or a lendertaking a security interest in the property takes his interest in the propertyfree of any rights of the  surviving spouse.

(c)        A purchaser forvalue or a lender need not inquire whether a vendor or borrower acted properly.

(d)        The proceeds of asale or creation of a security interest shall be treated in the same manner asthe property transferred to the purchaser for value or a lender. (1981,c. 882, s. 1.)