Bill Summary for H 422 (2023-2024)

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Summary date: 

Apr 4 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
House Bill 422 (Public) Filed Tuesday, March 21, 2023
AN ACT TO PROHIBIT UNFAIR REAL ESTATE SERVICE AGREEMENTS FOR RESIDENTIAL REAL ESTATE.
Intro. by K. Hall, Miller, Blackwell, Alston.

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Bill summary

House committee substitute to the 2nd edition makes the following changes.

Amends new 93A-85.2, which prohibits unfair real estate service agreements, to add an exemption for declarations created pursuant to GS Chapter 47A (Unit Ownership), Chapter 47C (North Carolina Condominium Act), or Chapter 47F (North Carolina Planned Community Act). 

Amends new GS 93A-85.3, which prohibits the recording of an unfair real estate service agreement, to eliminate the provision which authorized the register of deeds to refuse to accept an unfair real estate service agreement, or notice or memorandum thereof, for recordation.