Bill Summary for H 29 (2023-2024)
|View NCGA Bill Details||2023-2024 Session|
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.Intro. by Hastings, Bradford, Saine, Paré.
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Enacts GS 39-51 to specify that the mere fact that real property, or any portion of that real property, is included in a comprehensive transportation plan that is not financially constrained (as defined) adopted pursuant to the specified State and federal provisions, must not, standing alone, be deemed material. Specifies that this applies to (1) offering real property for conveyance, lease, or exchange; and (2) any other real estate transaction, including those specified. Prohibits any party or their agent to the conveyance, lease, exchange, or transaction from knowingly making a false statement regarding the property's inclusion on any transportation plan.
Amends GS 47E-4 to deem the inclusion of real property in a comprehensive transportation plan that is not financially constrained adopted pursuant to specified State or federal law regarding transportation planning not a required disclosure in real estate contracts. Prohibits parties or their agents in real estate contracts governed by GS Chapter 47E from knowingly making a false statement regarding a property's inclusion in any transportation plan.
Applies to claims for relief filed on or after October 1, 2023.