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.
House committee substitute amends the 1st edition as follows.
Amends proposed GS 39-51 to no longer explicitly deem material the fact that any portion of real property offered for conveyance or lease is included in a financially constrained transportation plan. Expands the statute, which specifies that the mere fact that any portion of real property is included in a comprehensive transportation plan that is not financially constrained and adopted under specified state or federal law regarding transportation planning, is not, standing alone, material. Now makes the provisions apply to offerings of real property for exchange, in addition to offerings for conveyance or lease, as well as any other real estate transaction (previously limited to offerings for conveyance or lease). Makes conforming changes.
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