North Carolina General Statutes 41-58. Possession and control of entireties property
(a) Spouses shall have an equal right to the control, use, possession, and income from property held by them as tenants by the entirety.
(b) Neither spouse may bargain, sell, lease, mortgage, transfer, convey, sign, pay out, or in any manner encumber any property held by them as tenants by the entirety without the written joinder of the other spouse. This section shall not be construed to require the spouse’s joinder where a different provision is made under N.C. Gen. Stat. § 41-56(b), N.C. Gen. Stat. § 41-63(4), N.C. Gen. Stat. § 39-13, N.C. Gen. Stat. § 39-13.3, N.C. Gen. Stat. § 39-13.4, or N.C. Gen. Stat. § 52-10
(c) The mortgage or sale of an interest in real property held by spouses as tenants by the entirety where one or both spouses is incompetent is governed by the provisions of Article 15 of Chapter 35A of the N.C. Gen. Stat.. ?(1981 (Reg. Sess., 1982), c. 1245, s. 1; 1983, c. 449, ss. 1, 2; 2020-50, s. 1(a)-(c).)
Terms Used In North Carolina General Statutes 41-58
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.