NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

 

 

CHAPTER 855

HOUSE BILL 1059

 

AN ACT TO AMEND CHAPTER 235 OF THE SESSION LAWS OF 1971 TO PROVIDE FOR THE RECORDATION AND LISTING FOR AD VALOReM TAXES OF CERTAIN OIL, GAS AND MINERAL INTERESTS.

 

The General Assembly of North Carolina do enact:

 

Section 1. Chapter 235 of the Session Laws of 1971 is hereby amended by adding a new subsection immediately following subsection (c):

"(d)      Within two years from November 1, 1971, all oil, gas or mineral interests in lands severed or separated from the surface fee simple ownership must be listed for ad valorem taxes and notice of such interest must be filed in writing in the manner provided by G.S. 1-42.2 (b) and recorded in the local registry in the book provided by G.S. 1-42, to be effective against the surface fee simple owner or creditors, purchasers, heirs or assigns of such owner. Subsurface oil, gas and mineral interests shall be assessed for ad valorem taxes as real property and such taxes shall be collected and foreclosed in the manner authorized by Chapter 105 of the General Statutes of North Carolina. The board of county commissioners shall publish a notice of this subsection in a newspaper published in the county or having general circulation in the county once a week for four consecutive weeks prior to November 1, l971.

The provisions of this subsection shall apply to the following counties: Rowan, Anson, Buncombe, Catawba, Davidson, Durham, Franklin, Guilford, Haywood, Hoke, Iredell, Jackson, Madison, Montgomery, Moore, Person, Richmond, Robeson, Scotland, Swain, Transylvania, Union, Wake, Warren and Yancey."

Sec. 2. This act shall become effective September 1, l971.

In the General Assembly read three times and ratified, this the 14th day of July, 1971.