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2019 North Carolina General Statutes
Chapter 41 - Estates
Article 3 - Time Limits on Options in Gross and Certain Other Interests in Land.
§ 41-29 - Options in gross, etc.
Universal Citation: NC Gen Stat § 41-29 (2019)
41-29. Options in gross, etc.
An option in gross with respect to an interest in land or a preemptive right in the nature of a right of first refusal in gross with respect to an interest in land becomes invalid if it is not actually exercised within 30 years after its creation. For purposes of this section, the term "interest in land" does not include arrangements relating solely to an interest in oil, gas, or minerals.
(1995, c. 525, s. 1.)
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