§ 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-4-103 – Public offering statement; general provisions.
47C-4-103. Public offering statement; general provisions. (a) A public offering statement must contain or fully and accurately disclose: (1) The name and principal address of the declarant and of the condominium; (2) A general description of the condominium, including to the extent possible, the types, number, and declarant’s schedule of commencement and completion of construction […]
§ 47C-4-104 – Same; condominiums subject to developmental rights.
47C-4-104. Same; condominiums subject to developmental rights. If the declaration provides that a condominium is subject to any development rights reserved by the declarant, the public offering statement shall disclose, in addition to the information required by G.S. 47C-4-103: (1) The maximum number of units, and the maximum number of units per acre, that may […]
§ 47C-3-115 – Assessments for common expense.
47C-3-115. Assessments for common expense. (a) Until the association makes a common expense assessment, the declarant shall pay all the common expenses. After any assessment has been made by the association, assessments thereafter must be made at least annually by the association. (b) Except for assessments under subsections (c), (d), and (e), all common expenses […]
§ 47C-3-116 – Lien for sums due the association; enforcement.
47C-3-116. Lien for sums due the association; enforcement. (a) Any assessment attributable to a unit which remains unpaid for a period of 30 days or longer shall constitute a lien on that unit when a claim of lien is filed of record in the office of the clerk of superior court of the county in […]
§ 47C-3-116.1 – Validation of certain nonjudicial foreclosure proceedings and sales.
47C-3-116.1. Validation of certain nonjudicial foreclosure proceedings and sales. All nonjudicial foreclosure proceedings commenced by an association before October 1, 2013, and all sales and transfers of real property as part of those proceedings pursuant to the provisions of this Chapter, Chapter 47A of the General Statutes, or provisions contained in the declaration of the […]