NC S217

Codifies North Carolina law on tenancy in common by adding Article 7 to Chapter 41 of the General Statutes, as recommended by the North Carolina Bar Association.

Establishes that tenancy in common requires two or more persons holding separate undivided interests with equal shares presumed unless otherwise specified, no right of survivorship, and each tenant having a right to possess the property.

Defines actual ouster as a clear and positive act denying a cotenant's rights, and constructive ouster as sole possession for 20 years without acknowledgment of cotenant rights or demands for rents and profits.

Permits adverse possession by a tenant in common: 20 years without color of title or 7 years with color of title, but only after actual or constructive ouster occurs.

Allows each tenant in common to convey, lease, mortgage, or place a lien on their undivided interest without joinder of cotenants, and provides rules for reimbursement of repairs, taxes, and encumbrance interest among cotenants.