§ 41-28. Definitions. - North Carolina Statutes

Article3.

Time Limits on Options inGross and Certain Other Interests in Land.

§ 41‑28.  Definitions.

As used in this Article:

(1)        "Nonvestedeasement in gross" means a nonvested easement which is not created tobenefit or which does not benefit the possessor of any tract of land in his orher use of it as the possessor.

(2)        "Option ingross with respect to an interest in land" means an option in which theholder of the option does not own any leasehold or other interest in the landwhich is the subject of the option.

(3)        "Preemptiveright in the nature of a right of first refusal in gross with respect to aninterest in land" means a preemptive right in which the holder of thepreemptive right does not own any leasehold or other interest in the land whichis the subject of the preemptive right. (1995, c. 525, s. 1.)