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North Carolina National Bank v. Norris
North Carolina Court of Appeals
21 N.C. App. 178 (1974)
B. F. Montague died in April 1928. At the time of his death, he left behind a widow, three daughters, and one grandchild named Thomas Norris. Some time later, Montague’s survivors also died, with Norris leaving behind four children, who were Montague’s great-grandchildren (defendants). Norris named North Carolina National Bank (the bank) (plaintiff) the executor of his estate. Montague’s will granted his wife a life estate in his property, which was to be conveyed to his three daughters upon her death. After the daughters died, the property was to go to their children (Montague’s grandchildren), with a remainder for the offspring of these grandchildren (Montague’s great-grandchildren). The trial court determined that the remainder interest to Montague’s great-grandchildren violated the rule against perpetuities and granted title to the property to the bank as the executor of Norris’s estate. Montague’s great-grandchildren appealed to the North Carolina Court of Appeals.
Rule of Law
Holding and Reasoning (Parker, J.)
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