North Carolina Statutes

Chapter 93A Real Estate License Law

Article 1 - Real Estate Brokers and Salespersons.

Article 2 - Real Estate Recovery Fund.

Article 3 - Private Real Estate Schools.

Article 4 - Time Shares.

  • § 93A-39   Title
    This Article shall be known and may be cited as the "North Carolina Time Share Act." (1983, c. 814, s. 1.)
  • § 93A-40   Registration required of time share projects; real estate license required
    (a) It shall be unlawful for any person in this State to engage or assume to engage in the business of a time share salesperson...
  • § 93A-41   Definitions
    When used in this Article, unless the context otherwise requires, the term: (1) "Commission" means the North Carolina Real Estate Commission; (2) "Developer" means any...
  • § 93A-42   Time shares deemed real estate
    (a) A time share is deemed to be an interest in real estate, and shall be governed by the law of this State relating to...
  • § 93A-43   Partition
    When a time share is owned by two or more persons as tenants in common or as joint tenants either may seek a partition by...
  • § 93A-44   Public offering statement
    Each developer shall fully and conspicuously disclose in a public offering statement: (1) The total financial obligation of the purchaser, which shall include the initial...
  • § 93A-45   Purchaser's right to cancel; escrow; violation
    (a) A developer shall, before transfer of a time share and no later than the date of any contract of sale, provide a prospective purchaser...
  • § 93A-46   Prizes
    An advertisement of a time share which includes the offer of a prize or other inducement shall fully comply with the provisions of Chapter 75...
  • § 93A-47   Time shares proxies
    No proxy, power of attorney or similar device given by the purchaser of a time share regarding the management of the time share program or...
  • § 93A-48   Exchange programs
    (a) If a purchaser is offered the opportunity to subscribe to any exchange program, the developer shall, except as provided in subsection (b), deliver to...
  • § 93A-49   Service of process on exchange company
    Any exchange company offering an exchange program to a purchaser shall be deemed to have made an irrevocable appointment of the Commission to receive service...
  • § 93A-50   Securities laws apply
    The North Carolina Securities Act, Chapter 78A, shall also apply, in addition to the laws relating to real estate, to time shares deemed to be...
  • § 93A-51   Rule-making authority
    The Commission shall have the authority to adopt rules and regulations that are not inconsistent with the provisions of this Article and the General Statutes...
  • § 93A-52   Application for registration of time share project; denial of registration; renewal; reinstatement; and termination of developer's interest
    (a) Prior to the offering in this State of any time share located in this State, the developer of the time share project shall make...
  • § 93A-53   Register of applicants; roster of registrants; registered projects; financial report to Secretary of State
    (a) The Executive Director of the Commission shall keep a register of all applicants for certificates of registration, showing for each the date of application,...
  • § 93A-54   Disciplinary action by Commission
    (a) The Commission has power to take disciplinary action. Upon its own motion, or on the verified complaint of any person, the Commission may investigate...
  • § 93A-55   Private enforcement
    The provisions of the Article shall not be construed to limit in any manner the right of a purchaser or other person injured by a...
  • § 93A-56   Penalty for violation of Article
    Except as provided in G.S. 93A‑40(b) and G.S. 93A‑58, any person violating the provisions of this Article shall be guilty of a Class 1 misdemeanor....
  • § 93A-57   Release of liens
    (a) Prior to any recordation of the instrument transferring a time share, the developer shall record and furnish notice to the purchaser of a release...
  • § 93A-58   Registrar required; criminal penalties; project broker
    (a) Every developer of a registered project shall, by affidavit filed with the Commission, designate a natural person to serve as time share registrar for...
  • § 93A-59   Preservation of time share purchaser's claims and defenses
    (a) For one year following the execution of an instrument of indebtedness for the purchase of a time share, the purchaser of a time share...
  • § 93A-60 through 93A-69   Reserved for future codification purposes

Article 5 - Real Estate Appraisers.