MATERIAL FACT DISCLOSURE CLARIFICATIONS.

View NCGA Bill Details2017-2018 Session
House Bill 31 (Public) Filed Wednesday, February 1, 2017
AN ACT TO CLARIFY THAT THE MERE FACT THAT REAL PROPERTY IS INCLUDED IN A COMPREHENSIVE TRANSPORTATION PLAN, STANDING ALONE, IS NOT A REQUIRED DISCLOSURE OR A MATERIAL FACT FOR THE PURPOSES OF DISCLOSURE FOR REAL ESTATE TRANSACTIONS.
Intro. by Hastings, Stone, Davis, Floyd.

Status: Ref To Com On Rules and Operations of the Senate (Senate Action) (Mar 30 2017)

SOG comments (1):

Long Title Change

House committee substitute to the 1st edition changes the long title. The original title is as follows:

AN ACT TO CLARIFY THAT THE INCLUSION OF REAL PROPERTY ON A COMPREHENSIVE TRANSPORTATION PLAN IS NOT A REQUIRED DISCLOSURE OR A MATERIAL FACT FOR THE PURPOSES OF DISCLOSURE FOR REAL ESTATE TRANSACTIONS.

H 31

Bill Summaries:

  • Summary date: Mar 1 2017 - More information

    House committee substitute makes the following changes to the 1st edition.

    Amends proposed GS 39-51 to establish as material the fact of inclusion of real property or any portion thereof being offered for conveyance, rent, or lease in a financially constrained transportation plan, but establishes that the mere fact that the real property or any portion thereof is included in a comprehensive transportation plan that is not financially constrained alone is not material (previous edition did not differentiate between inclusion in a financially constrained transportation plan as a material fact). Makes clarifying changes. 

    Amends proposed GS 47E-4(b3) to limit the exemption from disclosure in the owner's residential property disclosure statement to a purchaser to when the real property is included in a comprehensive transportation plan that is not financially constrained (previous edition exempted from disclosure the adoption of a comprehensive transportation plan adopted as specified).

    Changes the act's long title.


  • Summary date: Feb 1 2017 - More information

    Enacts GS 39-51, Inclusion of real property in a comprehensive transportation plan not a material fact, providing that, when real property is offered for conveyance, rent, or lease, it is not a material fact that the real property, or any portion of the real property, is included in a comprehensive transportation plan adopted pursuant to GS 136-66.2 (concerning development of streets and highways in and around municipalities), GS 136-212 (concerning rural transportation planning), or in accordance with federal law. Prohibits a party or a party's agent to the conveyance, rental, or lease of real property to knowingly make a false statement regarding the inclusion of the real property, or any portion of the real property, in such a comprehensive transportation plan.

    Amends GS 47E-4, which sets out required disclosures an owner must provide to a purchaser in a residential property disclosure statement, by adding a new subsection to provide that the adoption of a comprehensive transportation plan pursuant to GS 136-66.2, GS 136-212, or in accordance with federal law, is not to be considered a required disclosure under the statute. Prohibits all persons or agents subject to GS Chapter 47E, the Residential Property Disclosure Act, to knowingly make a false statement regarding the inclusion of real property in such a comprehensive transportation plan. 

    Applies to real estate contracts entered into on or after the date the act becomes law.


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