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.
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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