Carr v. . Parsons

The extension clause in question partakes of the nature of an option and is available to the grantee only upon notice and payment when due of “the yearly tax assessed against that part of the land on which the timber has not been removed.” The right, therefore, which arises from the exercise of this option, inures to the benefit of the present owners or those primarily liable for the yearly tax. Hood v. McGill, ante, 83.

Speaking to the subject in Bennett v. Lumber Co., 191 N. C., 425, 131 S. E., 741, it was said:

“The decisions on the subject are to the effect that these extension provisions,…