AN ACT TO MAKE CORRECTIONS AND OTHER AMENDMENTS TO VARIOUS STATUTES IMPACTING REAL PROPERTY OWNERSHIP AND TO MAKE OTHER CONFORMING CHANGES, AS RECOMMENDED BY THE REAL PROPERTY SECTION OF THE NORTH CAROLINA STATE BAR ASSOCIATION, TO REGULATE THE SOLICITATION OF A FEE IN EXCHANGE FOR COPIES OF RECORDED DOCUMENTS, AND TO CLARIFY ELIGIBILITY FOR NEEDS-BASED PUBLIC SCHOOL CAPITAL FUND GRANTS. Enacted June 25, 2018. Sections 1.2, 1.3, and 3.1 are effective October 1, 2018. The remainder is effective June 25, 2018, and applies to mortgages and deeds of trust entered into before, on, or after that date.
|View NCGA Bill Details||2017-2018 Session|
AN ACT TO MAKE CORRECTIONS AND OTHER AMENDMENTS TO VARIOUS STATUTES IMPACTING REAL PROPERTY OWNERSHIP AND TO MAKE OTHER CONFORMING CHANGES, AS RECOMMENDED BY THE REAL PROPERTY SECTION OF THE NORTH CAROLINA STATE BAR ASSOCIATION, TO REGULATE THE SOLICITATION OF A FEE IN EXCHANGE FOR COPIES OF RECORDED DOCUMENTS, AND TO CLARIFY ELIGIBILITY FOR NEEDS-BASED PUBLIC SCHOOL CAPITAL FUND GRANTS.Intro. by Jordan, Zachary.
Summary date: Jun 26 2018 - More information
Summary date: Jun 15 2018 - More information
Senate amendment makes the following changes to 2nd edition. Amends GS 47-18.3 to expand agents who have authority to validate instruments to include other fiduciaries duly authorized by the business entity's statutes or governing documents.
Amends SL 2017-57, Section 5.3(e), setting out that for fiscal year 2018-19, for the purposes of this section, a county is considered to be designated as a development tier one area if it was so designated by the Department of Commerce in 2017 or 2018 and the county filed a grant application under this section in 2017. Effective July 1, 2018.
Conforms title to changes.
Summary date: Jun 14 2018 - More information
Senate committee substitute makes the following changes to 1st edition. Amends GS 47-17.1, removing allowance for verbal representation of the individual presenting the deed. Adds new section GS 75-43 governing solicitation of a fee for copy of recorded documents. Requires any entity charging a fee for copies of a document available at the register of deeds to print a disclaimer at the top of the solicitation detailing that it is not from a government agency, that no action is legally required, and other pertinent information. Forbids putting such a document in a format that makes it appear to be issued by a government or have a deadline or appear to impose a legal duty. Sets a violation of this section as an unfair trade practice under GS 75-1.1. Sections 1.2 (amending GS 161-10) and 1.3 (amending GS 161-14.1) are effective October 1, 2018, and apply to instruments after this date. Section 3.1 (enacting new GS 75-43) is effective October 1, 2018. Conforms title to amendments.
Summary date: Apr 13 2017 - More information
Amends GS 39-13 (Spouse need not join in purchase-money mortgage). Provides that a mortgage or deed of trust given by the purchaser of real property to secure a loan, the proceeds of which were used to pay all or a portion of the purchase price of the encumbered real property, regardless of whether the secured party is the seller of the real property or a third-party lender, shall be good and effectual against the purchaser's spouse as well as the purchaser, without requiring the spouse to join in the execution of the mortgage or deed of trust.
Amends GS 161-10 (Uniform fees of registers of deeds). Provides that in all cases other than recording records of satisfaction or the cancellation of record by any other means, deeds of trust or mortgages, the fees in subdivision (a)(1) apply to the registration or filing of any subsequent instrument that relates to a previously recorded deed of trust or mortgage.
Amends GS 161-14.1 (Recording subsequent entries as separate instruments). Amends the definitions of original instrument and subsequent instrument to include reinstatements.
Part I applies to mortgages and deeds of trust entered into before, on, or after the date this act becomes law.
Amends GS 47-17.1 (requiring deeds and deeds of trust to bear the name of the person or law firm that drafted the instrument). Provides that that statue does not apply to other instruments presented for registration, and allows the register of deeds to accept the verbal or written representation of the individual presenting the deed or deed of trust for registration, or any individual reasonably related to the transaction, that the individual or law firm listed on the first page is a validly licensed attorney or validly existing law firm.
Amends GS 47-18.3 (Execution of corporate instruments; authority and proof). Provides that contrary terms in an operating agreement or articles of organization do not supercede the requirements of that statute. Incorporates domestic and foreign limited liability companies in the types of organizations whose instruments to which this statute applies. Adds chief operations officers, general counsels, deputy or assistant general counsels, managers, members, directors, or persons with similar business titles to the list of persons authorized to execute an instrument on behalf of a business association under this statute. Makes technical and conforming changes.
Part II applies to instruments presented for registration on or after the date this act becomes law.