A BILL TO BE ENTITLED AN ACT TO STABILIZE TITLES AND TO PROVIDE A UNIFORM PROCEDURE TO ENFORCE CLAIMS OF LIEN SECURING SUMS DUE CONDOMINIUM AND PLANNED COMMUNITY ASSOCIATIONS.
Senate committee substitute makes the following changes to the 2nd edition.
Makes organizational changes to the 2nd edition. Deletes prior changes that repealed GS 47C-3-116 and GS 47F-3-116,replaced GS 47C-3-116 (procedures for liens for assessments by homeowners associations) with new GS 47C-3-116.1, and replaced GS 47F-3-116 (comparable provisions for liens for planned community associations) with new GS 47F-3-116.1. Instead, reinstates GS 47C-3-116 andcodifiesthe provisions that were enacted as new GS 47C-3-116.1within GS 47C-3-116.Also reinstatesGS 47F-3-116 and codifiesthe provisions that were enacted as new GS 47F-3-116.1within GS 47F-3-116.
Makes technical change, recodifyingnew GS 47C-3-116.2 as GS 47C-3-116.1and GS 47F-3-116.2 as GS 47F-3-116.1, validating nonjudicial foreclosure proceedings commenced by associations before October 1, 2003(was, July 1, 2013), and all sales and transfers of property as part of those proceedings, unless action to set aside foreclosure is commenced by October 1, 2013(was, July 1, 2013), or within one year of sale, whichever is later.
Amends GS 47F-3-116 to provide that fees, charges, late charges, and other charges imposed under GS 47F-3-102, 47F-3-107, 47F-3-107.1, and 47F-3-115 are subject to the claim of lien under this section unless the declaration provides otherwise. Makes conforming technical changes renumbering sections as necessary.
Makes this act effective October 1, 2013 (was, July 1, 2013).
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