GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

S	1 

SENATE BILL 771

Short Title:  Allocate Entirety Value.	(Public)
─────────────────────────────────────── 
Sponsors: Senator Sands.
─────────────────────────────────────── 
Referred to:  Judiciary II.
─────────────────────────────────────── 

April 4, 1989

A BILL TO BE ENTITLED
AN ACT TO ALLOW HUSBANDS AND WIVES TO ALLOCATE VALUE WITH REGARD TO TENANCY BY THE ENTIRETY PROPERTY IN CLAIMING EXEMPTIONS FROM JUDGMENTS.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 1C-1601 is amended by adding a new subsection to read:
"( g)	This section shall apply separately with respect to each debtor in a joint enforcement claim.  In a joint enforcement claim against a husband and wife, the value of property held as tenants by the entirety shall be attributed one-half to each party unless the parties agree to a different allocation."
Sec. 2.  This act shall become effective October 1, 1989, and applies to exemptions claimed on or after that date.