reglab/housing_qa huggingface dataset:
NC Gen Stat § 47E-5 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-5 - Time for disclosure; cancellation of contract.

 47E-5. Time for disclosure; cancellation of contract.(a) The owner of real property subject to this Chapter shall deliver to the purchaser the disclosure statements required by this Chapter no later than the time the purchaser makes an offer to purchase, exchange, or option the property, or exercises the option to purchase the property pursuant to a lease with an option to purchase. The residential property disclosure statement, the mineral and oil and gas rights mandatory disclosure statement, or the owners' association and mandatory covenants disclosure statement may be included in the real estate contract, in an addendum, or in a separate document.(b) If the disclosure statements required by this Chapter are not delivered to the purchaser prior to or at the time the purchaser makes an offer, the purchaser may cancel any resulting real estate contract. The purchaser's right to cancel shall expire if not exercised prior to the following, whichever occurs first:(1) The end of the third calendar day following the purchaser's receipt of the disclosure statement;(2) The end of the third calendar day following the date the contract was made;(3) Settlement or occupancy by the purchaser in the case of a sale or exchange; or(4) Settlement in the case of a purchase pursuant to a lease with option to purchase.Any right of the purchaser to cancel the contract provided by this subsection is waived conclusively if not exercised in the manner required by this subsection.In order to cancel a real estate contract when permitted by this section, the purchaser shall, within the time required above, give written notice to the owner or the owner's agent either by hand delivery or by depositing into the United States mail, postage prepaid, and properly addressed to the owner or the owner's agent. If the purchaser cancels a real estate contract in compliance with this subsection, the cancellation shall be without penalty to the purchaser, and the purchaser shall be entitled to a refund of any deposit the purchaser may have paid. Any rights of the purchaser to cancel or terminate the contract for reasons other than those set forth in this subsection are not affected by this subsection.  (1995, c. 476, s. 1; 1997-472, s. 2; 2011-362, s. 3(c); 2014-120, s. 49(a).)
NC Gen Stat § 47E-6 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-6 - Owner liability for disclosure of information provided by others.

 47E-6. Owner liability for disclosure of information provided by others.With the exception of the disclosures required by G.S. 47E-4.1, the owner may discharge the duty to disclose imposed by this Chapter by providing a written report attached to the residential property disclosure statement and the owners' association and mandatory covenants disclosure statement by a public agency or by an attorney, engineer, land surveyor, geologist, pest control operator, contractor, home inspector or other expert, dealing with matters within the scope of the public agency's functions or the expert's license or expertise. The owner shall not be liable for any error, inaccuracy, or omission of any information delivered pursuant to this section if the error, inaccuracy, or omission was made in reasonable reliance upon the information provided by the public agency or expert and the owner was not grossly negligent in obtaining the information or transmitting it.  (1995, c. 476, s. 1; 1997-472, s. 3; 2011-362, s. 3(d); 2014-120, s. 49(a).)
NC Gen Stat § 47E-7 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-7 - Change in circumstances.

 47E-7. Change in circumstances.If, subsequent to the owner's delivery of a residential property disclosure statement, the mineral and oil and gas rights mandatory disclosure statement, or the owners' association and mandatory covenants disclosure statement to a purchaser, the owner discovers a material inaccuracy in a disclosure statement, or a disclosure statement is rendered inaccurate in a material way by the occurrence of some event or circumstance, the owner shall promptly correct the inaccuracy by delivering a corrected disclosure statement or statements to the purchaser. Failure to deliver a corrected disclosure statement or to make the repairs made necessary by the event or circumstance shall result in such remedies for the buyer as are provided for by law in the event the sale agreement requires the property to be in substantially the same condition at closing as on the date of the offer to purchase, reasonable wear and tear excepted.  (1995, c. 476, s. 1; 2011-362, s. 3(e); 2014-120, s. 49(a).)
NC Gen Stat § 47E-8 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-8 - Agent's duty.

 47E-8. Agent's duty.A real estate broker acting as an agent in a residential real estate transaction has the duty to inform each of the clients of the real estate broker of the client's rights and obligations under this Chapter. Provided the owner's real estate broker has performed this duty, the broker or salesman shall not be responsible for the owner's willful refusal to provide a prospective purchaser with a residential property disclosure statement, the mineral and oil and gas rights mandatory disclosure statement, or an owners' association and mandatory covenants disclosure statement. Nothing in this Chapter shall be construed to conflict with, or alter, the broker's duties under Chapter 93A of the General Statutes.  (1995, c. 476, s. 1; 1997-472, s. 4; 2011-362, s. 3(f); 2014-120, s. 49(a).)
NC Gen Stat § 47E-9 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-9 - Rights and duties under Chapter 42, landlord and tenant, not affected during lease.

 47E-9. Rights and duties under Chapter 42, landlord and tenant, not affected during lease.This Chapter shall not affect the landlord-tenant relationship between the parties to a lease with option to purchase contract during the term of the lease, and the rights and duties of landlords and tenants under Chapter 42 of the General Statutes shall remain in effect until transfer of ownership of the property to the purchaser. (1995, c. 476, s. 1.)
NC Gen Stat § 47E-10 (2021)
2021 North Carolina General Statutes|Chapter 47E - Residential Property Disclosure Act|§ 47E-10 - Authorization to prepare forms; fees.

 47E-10. Authorization to prepare forms; fees.The North Carolina Real Estate Commission may prepare, or cause to be prepared, forms for use pursuant to this Chapter. The Commission may charge a fee not to exceed twenty-five cents (25 ) per form plus the costs of postage. (1995, c. 476, s. 1.)
NC Gen Stat § 47G-1 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-1 - Definitions.

 47G-1. Definitions.The following definitions apply in this Chapter:(1) Covered lease agreement or lease agreement. - A residential lease agreement that is combined with, or is executed concurrently with, an option contract.(2) Cure the default. - To perform the obligations under the lease agreement and/or option contract that are described in the notice of default and intent to forfeit required by G.S. 47G-5 and that are necessary to reinstate the lease agreement and/or the option contract. This term is synonymous with the term "cure."(3) Forfeiture. - The termination of an option purchaser's rights to exercise an option to purchase property that is the subject of the option contract, and those rights of persons or entities claiming by or through an option purchaser, to the extent permitted by this Chapter, because of a breach of one or more of the purchaser's obligations under the option contract and/or covered lease agreement.(4) Option contract or contract. - An option contract for the purchase of single-family residential real property that includes or is combined with, or is executed in conjunction with, a covered lease agreement.(5) Option fee. - Any payment, however denominated, made by the option purchaser to the option seller that constitutes the price the option purchaser pays for the right to buy the property at a specified price in the future.(6) Option purchaser or purchaser. - An individual who purchases an interest in property under an option contract, or any legal successor in interest to that individual.(7) Option seller or seller. - A person or entity that makes a sale of an option by means of an option contract, or the person's or entity's successor in interest. If an option contract is subsequently assigned or sold to a third party, the assignor shall be deemed to be an option seller or seller for purposes of this Chapter.(8) Property. - Real property located in this State, upon which there is located or there is to be located a structure or structures designed principally for occupancy of from one to four families that is or will be occupied by the purchaser as the purchaser's principal dwelling.  (2010-164, s. 3; 2015-178, s. 3.)
NC Gen Stat § 47G-3 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-3 - Application of Landlord Tenant Law.

 47G-3. Application of Landlord Tenant Law.Unless otherwise provided for by this Chapter, the provisions of Chapter 42 of the General Statutes apply to covered lease agreements.  (2010-164, s. 3; 2015-178, s. 3.)
NC Gen Stat § 47G-4 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-4 - Condition of forfeiture; right to cure.

 47G-4. Condition of forfeiture; right to cure.A purchaser's right to exercise an option to purchase property under an option contract cannot be forfeited unless a breach has occurred in one or more of the purchaser's express obligations under the option contract and the option contract provides that as a result of such breach the seller is entitled to forfeit the contract. Notwithstanding any option contract or covered lease agreement provisions to the contrary, the purchaser's rights shall not be forfeited until the purchaser has been notified of the intent to forfeit in accordance with G.S. 47G-5 and been given a right to cure the default and has failed to do so within the time period allowed. The option purchaser is entitled to the right to cure a default once in every 12-month period during the period of the covered lease agreement.  (2010-164, s. 3.)
NC Gen Stat § 47G-5 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-5 - Notice of default and intent to forfeit.

 47G-5. Notice of default and intent to forfeit.(a) A notice of default and intent to forfeit shall specify the nature of the default, the amount of the default if the default is in the payment terms, the date after which the contract will be forfeited if the purchaser does not cure the default, and the name and address of the seller or the attorney for the seller. The period specified in the notice after which the contract will be forfeited may not be less than 30 days after the notice of default and intent to forfeit is served, or before judgment is given in any action brought to recover the possession of the leased premises pursuant to Article 3 of Chapter 42 of the General Statutes, whichever is earlier. A judgment rendered in an action to recover possession of the premises shall not prejudice either party in a subsequent action to recover monetary damages or other remedies.(b) Any notice of default and intent to forfeit must be delivered to the option purchaser by hand delivery or by any manner authorized by G.S. 1A-1, Rule 4.  (2010-164, s. 3; 2015-178, s. 3.)
NC Gen Stat § 47G-6 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-6 - Effect of seller's default on loan secured by mortgage or lien on property.

 47G-6. Effect of seller's default on loan secured by mortgage or lien on property.If, at any time prior to the expiration of the time period in which the option purchaser has a right to exercise the option to purchase, a default occurs on a loan secured by a mortgage, security interest, or other lien on the property, the option purchaser may elect to exercise the option or cancel and rescind the contract and, in addition to any other remedies available at law or equity, seek the immediate return of all moneys paid by the option purchaser. If the purchaser elects to rescind the contract, the seller is entitled to an offset of an amount equal to the fair rental value of the use of the property during the duration of the purchaser's possession of the property plus an amount necessary to compensate the seller for any damages caused to the property by the purchaser beyond normal wear and tear.  (2010-164, s. 3.)
NC Gen Stat § 47G-7 (2021)
2021 North Carolina General Statutes|Chapter 47G - Option to Purchase Contracts Executed With Lease Agreements|§ 47G-7 - Remedies.

 47G-7. Remedies.(a) An option purchaser may bring an action for the recovery of damages, to void a transaction executed in violation of this Chapter, as well as for declaratory or equitable relief for a violation of this Chapter. The rights and remedies provided herein are cumulative to, and not a limitation of, any other rights and remedies provided by law or equity. Nothing in this Chapter shall be construed to subject an individual homeowner selling his or her primary residence directly to an option purchaser to liability under G.S. 75-1.1.(b) In the event of default by the option purchaser under the terms of the lease agreement, the option seller may initiate a summary ejectment action to recover damages and possession of the leased premises pursuant to Article 3 of Chapter 42 of the General Statutes. The magistrate shall retain jurisdiction over the summary ejectment proceeding.(c) The option purchaser may counterclaim for damages in any summary ejectment proceeding. In accordance with G.S. 7A-219 of the General Statutes, no counterclaim which would make the amount in controversy exceed the jurisdictional limits shall be permitted. If a counterclaim in a summary ejectment proceeding is barred pursuant to G.S. 7A-219, the option purchaser shall not be estopped from asserting that claim in a separate action.  (2010-164, s. 3; 2015-178, s. 3.)
NC Gen Stat § 47H-1 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-1 - Definitions.

 47H-1. Definitions.The following definitions apply in this Chapter:(1) Contract for deed or contract. - An agreement, whether denominated a "contract for deed," "installment land contract," "land contract," "bond for title," or any other title or description in which the seller agrees to sell an interest in property to the purchaser and the purchaser agrees to pay the purchase price in five or more payments exclusive of the down payment, if any, and the seller retains title to the property as security for the purchaser's obligation under the agreement.(2) Cure the default. - To perform the obligations under the contract that are described in the notice of default and intent to forfeit required by G.S. 47H-4 and that are necessary to reinstate the contract. This term is synonymous with the term "cure."(3) Down payment. - A payment made by the purchaser to the seller that constitutes part of the purchase price of property that is the subject of a contract for deed and that is made or agreed to in connection with the execution of that contract.(4) Forfeiture. - The termination of all of a purchaser's rights, title, and interest, and those of persons or entities claiming by or through a purchaser, in property that is the subject of a contract for deed, to the extent permitted by this Chapter, because of a breach of one or more of the purchaser's obligations under the contract.(5) Property. - Either (i) real estate located in this State, upon which there is located or there is to be located a structure or structures designed principally for occupancy of from one to four families that is or will be occupied by the purchaser as the purchaser's principal dwelling, or (ii) a manufactured home, as that term is defined in G.S. 143-149.9, that is located in this State and is or will be occupied by a purchaser as the purchaser's principal dwelling, if the purchase price is five thousand dollars ($5,000) or more.(6) Purchaser. - An individual or entity that purchases an interest in property under a contract for deed, or any legal successor in interest to that individual.(7) Seller. - A person or entity that makes a sale of property by means of a contract for deed, or the person's or entity's successor in interest.  (2010-164, s. 4.)
NC Gen Stat § 47H-3 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-3 - Conditions of forfeiture; right to cure.

 47H-3. Conditions of forfeiture; right to cure.A purchaser's rights under a contract for deed shall not be forfeited except as provided in this Chapter. A contract for deed cannot be forfeited unless a breach has occurred in one or more of the purchaser's express obligations under the contract and the contract provides that as a result of such breach the seller is entitled to forfeit the contract. Furthermore, the purchaser's rights shall not be forfeited until the purchaser has been notified of the intent to forfeit in accordance with G.S. 47H-4 and been given a right to cure the default and has failed to do so within the time period allowed. A timely tender of cure shall reinstate the contract for deed.  (2010-164, s. 4.)
NC Gen Stat § 47H-4 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-4 - Notice of default and intent to forfeit.

 47H-4. Notice of default and intent to forfeit.(a) The notice of default and intent to forfeit shall contain all of the following:(1) The name, address, and telephone number of the seller and the seller's agent or attorney giving the notice, if any.(2) A description of the contract, including the names of the original parties to the contract for deed.(3) The physical address of the property.(4) A description of each default under the contract on which the notice is based.(5) A statement that the contract will be forfeited if all defaults are not cured by a date stated in the notice which is not less than 30 days after the notice of default and intent to forfeit is served or any longer period specified in the contract or other agreement with the seller.(6) An itemized statement of, or to the extent not known at the time the notice of default and intent to forfeit is given or recorded, a reasonable estimate of, all payments of money in default, and, for defaults not involving the failure to pay money, a statement of the action required to cure the default.(7) Any additional information required by the contract for deed or other agreement with the seller.(b) Any notice of default and intent to forfeit must be delivered to the purchaser by hand or by any manner authorized in G.S. 1A-1, Rule 4.  (2010-164, s. 4.)
NC Gen Stat § 47H-5 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-5 - Periodic statements of account.

 47H-5. Periodic statements of account.The seller shall provide the purchaser with a statement of account at least once every 12-month period for the term of a contract for deed. The statement must include at least the following information:(1) The amount paid under the contract.(2) The remaining amount owed under the contract.(3) The number of payments remaining under the contract.(4) The amounts paid to taxing authorities, if paid or collected by the seller or the purchaser.(5) The amounts paid to insure the property on the purchaser's behalf, if collected by the seller.(6) If the property has been damaged and the seller has received insurance proceeds, an accounting of the proceeds applied to the property.(7) If the property is encumbered by a lien or mortgage pursuant to G.S. 47H-6, the outstanding balance of the loan that is secured by the property.  (2010-164, s. 4.)
NC Gen Stat § 47H-6 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-6 - Title requirements.

 47H-6. Title requirements.(a) A seller may not execute a contract for deed with a purchaser if the seller does not hold title to the property. If the title is not held in fee simple, free from any deeds of trust, mortgages, or other encumbrances evidencing or securing a monetary obligation which constitutes a lien on the property, the seller may execute a contract for deed only if the mortgage or encumbrance is in the name of the seller and meets at least one of the following conditions:(1) It was agreed to by the purchaser, in writing, as a condition of a loan obtained to make improvements on the property.(2) It was placed on the property by the seller prior to the execution of the contract for deed if the seller is a licensed general contractor within the meaning of Chapter 87 of the General Statutes, a licensed manufactured home dealer within the meaning of Article 9A of Chapter 143 of the General Statutes, or a licensed real estate broker within the meaning of Chapter 93A of the General Statutes, provided that the general contractor, manufactured home dealer, or real estate broker continues to make timely payments on the outstanding mortgage or encumbrance.(3) It was placed on the property by the seller prior to the execution of the contract for deed, if the seller is not a licensed general contractor within the meaning of Chapter 87 of the General Statutes, a licensed manufactured home dealer within the meaning of Article 9A of Chapter 143 of the General Statutes, or a licensed real estate broker within the meaning of Chapter 93A of the General Statutes, if the lien is attached only to the property sold to the purchaser under the contract for deed, and the seller continues to make timely payments on the outstanding mortgage or encumbrance.(b) If the property being sold is encumbered by one or more deeds of trust, mortgages, or other encumbrances evidencing or securing a monetary obligation which constitutes a lien on the property, the seller must notify the purchaser in a separate written disclosure, provided at or before the execution of the contract, in 14-point type, boldface, capital letters, the following statement: THIS PROPERTY HAS EXISTING LIENS ON IT. IF THE SELLER FAILS TO MAKE TIMELY PAYMENTS TO THE LIEN HOLDER, THE LIEN HOLDER MAY FORECLOSE ON THE PROPERTY, EVEN IF YOU HAVE MADE ALL YOUR PAYMENTS.(c) In addition to any other remedies at law or equity, a seller's violation of this section entitles the purchaser to either a claim for damages or the right to rescind the contract and seek the return of all payments, deposits, and down payments that have been made under the contract. If the purchaser elects to rescind the contract, the seller is entitled to an offset of an amount equal to the fair market value of the use of the property during the duration of the purchaser's possession of the property plus an amount necessary to compensate the seller for any damages caused to the property by the purchaser beyond normal wear and tear.  (2010-164, s. 4.)
NC Gen Stat § 47H-7 (2021)
2021 North Carolina General Statutes|Chapter 47H - Contracts for Deed|§ 47H-7 - Late fees.

 47H-7. Late fees.No seller may charge a late payment charge under a contract for deed in excess of four percent (4%) of the amount of the payment past due. A late fee may only be charged on payments that are more than 15 days past due.  (2010-164, s. 4.)