GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2017

H                                                                                                                                                   D

HOUSE BILL DRH10010-MQ-5   (11/30)

Short Title:      Material Fact Disclosure Clarifications.		(Public)
Sponsors:	Representatives Hastings, Stone, Davis, and Floyd (Primary Sponsors).
Referred to:

A BILL TO BE ENTITLED

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.

The General Assembly of North Carolina enacts:

SECTION 1.  Article 9 of Chapter 39 of the General Statutes is amended by adding a new section to read:

"§ 39‑51.  Inclusion of real property in a comprehensive transportation plan not a material fact.

In offering real property for conveyance, rent, or lease, it shall not be deemed a material fact that the real property, or any portion thereof, is included in a comprehensive transportation plan adopted pursuant to G.S. 136‑66.2 or G.S. 136‑212, or in accordance with 23 U.S.C. §§ 134 or 135; provided, however, that a party to the conveyance, rental, or lease, or an agent of any said party, may not knowingly make a false statement regarding any such fact."

SECTION 2.  G.S. 47E‑4 reads as rewritten:

"§ 47E‑4.  Required disclosures.

...

(b3) The adoption of a comprehensive transportation plan pursuant to G.S. 136‑66.2 or 136‑212, or in accordance with 23 U.S.C. §§ 134 or 135, shall not be considered a required disclosure as provided in this section; provided, however, that no person subject to this Chapter, or an agent of a person subject to this Chapter, may knowingly make a false statement regarding any such fact.

...."

SECTION 3.  This act is effective when it becomes law and applies to real estate contracts entered into on or after that date.