Chapter 47E Residential Property Disclosure Act
- § 47E-1 Applicability
This Chapter applies to the following transfers of residential real property consisting of not less than one nor more than four dwelling units, whether or...
- § 47E-2 Exemptions
The following transfers are exempt from the provisions of this Chapter: (1) Transfers pursuant to court order, including transfers ordered by a court in administration...
- § 47E-3 Definitions
When used in this Chapter, unless the context requires otherwise, the term: (1) "Owner" means each person having a recorded present or future interest in...
- § 47E-4 Required disclosures
(a) With regard to transfers described in G.S. 47E‑1, the owner of the real property shall furnish to a purchaser a residential property disclosure statement....
- § 47E-5 Time for disclosure; cancellation of contract
(a) The owner of real property subject to this Chapter shall deliver to the purchaser the disclosure statement required by this Chapter no later than...
- § 47E-6 Owner liability for disclosure of information provided by others
The owner may discharge the duty to disclose imposed by this Chapter by providing a written report attached to the residential property disclosure statement by...
- § 47E-7 Change in circumstances
If, subsequent to the owner's delivery of a residential property disclosure statement to a purchaser, the owner discovers a material inaccuracy in the disclosure statement,...
- § 47E-8 Agent's duty
A real estate broker or salesman acting as an agent in a residential real estate transaction has the duty to inform each of the clients...
- § 47E-9 Rights and duties under Chapter 42, landlord and tenant, not affected during lease
This Chapter shall not affect the landlord‑tenant relationship between the parties to a lease with option to purchase contract during the term of the lease,...
- § 47E-10 Authorization to prepare forms; fees
The North Carolina Real Estate Commission may prepare, or cause to be prepared, forms for use pursuant to this Chapter. The Commission may charge a...
