§ 41-46. Ownership on death of owner. - North Carolina Statutes

§ 41‑46.  Ownership ondeath of owner.

On death of a sole owner orthe last to die of all multiple owners, ownership of securities registered inbeneficiary form passes to the beneficiary or beneficiaries who survive allowners. On proof of death of all owners and compliance with any applicablerequirements of the registering entity, a security registered in beneficiaryform may be reregistered in the name of the beneficiary or beneficiaries whosurvive the death of all owners. Until division of the security after the deathof all owners, multiple beneficiaries surviving the death of all owners holdtheir interests as tenants in common. If no beneficiary survives the death ofall owners, the security belongs to the estate of the deceased sole owner orthe estate of the last to die of all multiple owners. (2005‑411, s. 1.)