§ 105-302. In whose name real property is to be listed. - North Carolina Statutes

§105‑302.  In whose name real property is to be listed.

(a)        Taxable realproperty shall be listed in the name of the owner, and it shall be the owner'sduty to list it unless the board of county commissioners shall have adopted apermanent listing system as provided in G.S. 105‑303(b). For purposes ofthis section, the board of county commissioners may require that real propertybe listed in the name of the owner of record as of the day as of which propertyis to be listed under G.S. 105‑285.

(b)        If real property islisted in the name of one other than the person in whose name it should belisted, and the name of the proper person is later ascertained, the abstractand tax records shall be corrected to list the property in the name of theperson in whose name it should have been listed. The corrected listing shallhave the same force and effect as if the real property had been listed in thename of the proper person in the first instance.

(c)        For purposes ofthis Subchapter:

(1)        The owner of theequity of redemption in real property subject to a mortgage or deed of trustshall be considered the owner of the property, and such real property shall belisted in the name of the owner of the equity of redemption.

(2)        Real property ownedby a corporation shall be listed in the  name of the corporation.

(3)        Real property ownedby an unincorporated association shall be listed in the name of theassociation.

(4)        Real property ownedby a partnership shall be listed in the  name of the partnership.

(5)        Real property heldin connection with a sole proprietorship  shall be listed in the name of theowner, and the name and address of the proprietorship shall be noted on theabstract.

(6)        Real property ofwhich a decedent died possessed, if not under the control of an executor oradministrator, shall be listed in the names of the heirs or devisees if known,but such property may be listed as property of "the heirs" or"the devisees" of the decedent, without naming them, until they havegiven the assessor notice of their names and of the division of the estate. Itshall be the duty of an executor or administrator having control of realproperty to  list it in his fiduciary capacity, as required by subdivision(c)(7), below, until he is divested of control of the property. However, theright of an administrator or executor of a deceased person to petition for thesale of real property to make assets shall not be considered control of thereal property for the purposes of this subdivision.

(7)        Real property, thetitle to which is held by a trustee, guardian, or other fiduciary, shall belisted by the fiduciary in his fiduciary capacity except as otherwise providedin this section.

(8)        A life tenant ortenant for the life of another shall be considered the owner of real property,and it shall be his duty to list the property for taxation, indicating on theabstract that he is a life tenant or tenant for the life of another namedindividual.

(9)        Upon request to andwith the approval of the assessor, undivided interests in real property ownedby tenants in common who are not copartners may be listed by the respectiveowners in accordance with their respective undivided interests. Otherwise, realproperty held by tenants in common shall be listed in the names of all theowners.

(10)      Real property ownedby husband and wife as tenants by the entirety shall be listed on a singleabstract in the names of both tenants, and the nature of their ownership shallbe indicated thereon.

(11)      When land is owned byone party and improvements thereon or special rights (such as mineral, timber,quarry, waterpower, or similar rights) therein are owned by another party, theparties shall list their interests separately unless, in accordance withcontractual relations between them, both the land and the improvements andspecial rights are listed in the name of the owner of the land.

(12)      If the person inwhose name real property should be listed  is unknown, or if title to realproperty is in dispute, the property shall be listed in the name of theoccupant or, if there be no occupant, in the name of "unknown owner."Such a listing shall not affect the validity of the lien for taxes created byG.S. 105‑355. When the name of the owner is later ascertained, theprovisions of subsection (b), above, shall apply.

(13)      Real property, ownedunder a time‑sharing arrangement but managed by a homeowners associationor other managing entity, shall be listed in the name of the managing entity. (1939,c. 310, s. 701; 1971, c. 806, s. 1; 1983, c. 785, s. 1; 1987, c. 45, s. 1.)