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.
Enacts GS 39-51 to deem material the fact that any portion of real property offered for conveyance or lease is included in a financially constrained transportation plan. Specifies that the fact that any portion of real property is included in a comprehensive transportation plan that is not financially constrained adopted under specified state or federal law regarding transportation planning, is not, standing alone, material. Prohibits any party or their agent to the conveyance or lease 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, 2021.
© 2021 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.