North Carolina § 39-6 - 3. Inter vivos and testamentary conveyances of future interests permitted.

§ 39-6. 3. Inter vivos and testamentary conveyances of future interests permitted.

The conveyance, by deed or will, of an existing future interest shall not be ineffective on the sole ground that the interest so conveyed is future or contingent. All future interests in real or personal property, including all reversions, executory interests, vested and contingent remainders, rights of entry both before and after breach of condition and possibilities of reverter may be conveyed by the owner thereof, by an otherwise legally effective conveyance, inter vivos or testamentary, subject, however, to all conditions and limitations to which such future interest is subject. The power to convey as provided in subsection (a), can be exercised by any form of conveyance, inter vivos or testamentary, which is otherwise legally effective in this State at the date of such conveyance to transfer a present estate of the same duration in the property. This section shall apply only to conveyances which become operative to transfer title on or after October 1, 1961. History (1961, c. 435.) Legal Periodicals. - For article, "The Rule Against Perpetuities in North Carolina," see 57 N.C.L. Rev. 727 (1979). For article, "The North Carolina Historic Preservation and Conservation Agreements Act: Assessment and Implications for Historic Preservation," see 11 N.C. Cent. L.J. 362 (1980). For article, "Class Gifts in North Carolina - When Do We 'Call The Roll'?," see 21 Wake Forest L. Rev. 1 (1985). For a comment on the acquisition, abandonment, and preservation of rail corridors in North Carolina, see 75 N.C.L. Rev. 1989 (1997).