§ 46-24. Life tenant as party; valuation of life estate. - North Carolina Statutes

§46‑24.  Life tenant as party; valuation of life estate.

In all proceedings forpartition of land whereon there is a life estate, the life tenant may join inthe proceeding and on a sale the interest on the value of the share of the lifetenant shall be received and paid to such life tenant annually; or in lieu ofsuch annual interest, the value of such share during the probable life of suchlife tenant shall be ascertained and paid out of the proceeds to such lifetenant absolutely. (1887, c. 214, s. 3; Rev., s. 2509; C.S., s. 3235.)