§ 47C-4-106 – Conversion buildings.
47C-4-106. Conversion buildings. Condominiums containing conversion buildings shall be subject to the provisions of Article 2 of Chapter 47A. (1985 (Reg. Sess., 1986), c. 877, s. 1.)
§ 47C-4-107 – Same; condominium securities.
47C-4-107. Same; condominium securities. (a) If an interest in a condominium is registered with the Securities and Exchange Commission of the United States, a declarant satisfies the requirements relating to the preparation of a public offering statement of this chapter if he delivers to the purchaser a copy of the public offering statement filed with […]
§ 47C-4-108 – Purchaser's right to cancel.
47C-4-108. Purchaser’s right to cancel. (a) A person required to deliver a public offering statement pursuant to G.S. 47C-4-102(c) shall provide a purchaser of a unit or the spouse of such purchaser with a copy of the public offering statement and all amendments thereto before a contract to purchase the unit is executed. No conveyance […]
§ 47C-4-109 – Resales of units.
47C-4-109. Resales of units. Except in the case of a sale where delivery of a public offering statement is required, or unless exempt under G.S. 47C-4-101(b), a unit owner shall furnish to a prospective purchaser before conveyance a statement setting forth the monthly common expense assessment and any other fees payable by unit owners. (1985 […]
§ 47C-4-110 – Escrow of deposits.
47C-4-110. Escrow of deposits. (a) Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to G.S. 47C-4-102(c) shall be immediately deposited in a trust or escrow account in a federally insured depository institution or a trust institution authorized to do […]
§ 47C-4-111 – Release of liens or encumbrances.
47C-4-111. Release of liens or encumbrances. (a) In the case of a sale of a unit where delivery of a public offering statement is required pursuant to G.S. 47C-4-102(c), a seller shall, at or before conveying a unit, record or furnish to the purchaser, releases of all liens or encumbrances affecting that unit and its […]
§ 47C-4-113 – Express warranties of quality.
47C-4-113. Express warranties of quality. The law relating to express warranties is applicable to the sale of a condominium unit and supplements the provisions of this chapter; provided, however, that the existence of express warranties shall not constitute a disclaimer of implied warranties. (1985 (Reg. Sess., 1986), c. 877, s. 1.)
§ 47C-3-119 – Association as trustee.
47C-3-119. Association as trustee. With respect to a third person dealing with the association in the association’s capacity as a trustee under G.S. 47C-2-118 following termination or G.S. 47C-3-113 for insurance proceeds, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound […]
§ 47C-3-121 – American and State flags and political sign displays.
47C-3-121. American and State flags and political sign displays. Notwithstanding any provision in any declaration of covenants, no restriction on the use of land shall be construed to: (1) Regulate or prohibit the display of the flag of the United States or North Carolina, of a size no greater than four feet by six feet, […]
§ 47C-3-122 – Irrigation of landscaping.
47C-3-122. Irrigation of landscaping. Notwithstanding any provision in any declaration of covenants, no requirement to irrigate landscaping shall be construed to: (1) Require the irrigation of landscaping, during any period in which the U.S. Drought Monitor, as defined in G.S. 143-350, or the Secretary of Environmental Quality has designated an area in which the association […]