§ 46-25. Sale of standing timber on partition; valuation of life estate. - North Carolina Statutes

§46‑25.  Sale of standing timber on partition; valuation of life estate.

When two or more persons own,as tenants in common, joint tenants or copartners, a tract of land, either inpossession, or in remainder or reversion, subject to a life estate, or whereone or more persons own a remainder or reversionary interest in a tract ofland, subject to a life estate, then in any such case in which there isstanding timber upon any such land, a sale of said timber trees, separate fromthe land, may be had upon the petition of one or more of said owners, or thelife tenant, for partition among the owners thereof, including the life tenant,upon such terms as the court may order, and under like proceedings as are nowprescribed by law for the sale of land for partition: Provided, that when theland is subject to a life estate, the life tenant shall be made a party to theproceedings, and shall be entitled to receive his or her portion of the netproceeds of sales, to be ascertained under the mortality tables established bylaw: Provided further, that prior to a judgment allowing a life tenant to sellthe timber there must be a finding that the cutting is in keeping with goodhusbandry and that no substantial injury will be done to the remainderinterest. (1895, c. 187; Rev., s. 2510; C.S., s. 3236; 1949, c.34; 1975, c. 476, s. 1; 1997‑133, s. 3.)