31C-7. Purchaser for value or lender.
(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. (1981, c. 882, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 31C - Uniform Disposition of Community Property Rights at Death Act
§ 31C-2 - Rebuttable presumptions.
§ 31C-3 - Disposition of community property upon death.
§ 31C-4 - Perfection of title of surviving spouse.
§ 31C-7 - Purchaser for value or lender.
§ 31C-9 - Severing or altering of married persons.
§ 31C-10 - Limitations on testamentary disposition.