House Bill 513 “Real Property/Technical Corrections” (with a long title of “An Act to Make Technical Corrections and Other Conforming Changes to the General Statutes Concerning Real Property”) was ratified by the North Carolina General Assembly on May 28, 2015, and signed by Governor McCrory earlier today (June 4, 2015). As a result, HB 513 has the distinction of being the first of many pieces of community association legislation to make it into law this year (see NC Community Association Legislative Roundup – May 14, 2015).
The bill is a follow-up to last session’s adopted changes to NCGS 47F-3-104 HB 330: Planned Community Act/Declarant Rights (see our firm’s North Carolina Community Association 2013 Legislative Roundup blog) which was intended to clarify language in the Planned Community Act as to successor declarants, whether by transfer or foreclosure. HB 513 makes similar changes to the NC Condominium Act in Chapter 47C. The bill was effective upon signing and is now law.
The final bill as adopted can be found at http://www.ncleg.net/Sessions/2015/Bills/House/PDF/H513v3.pdf.