Which statement is most accurate about seller-financing and estate or trust limits under North Carolina MLO law or NCCOB guidance?
Correct Answer
A) NC includes limited seller-financing and estate or trust exemptions, including three-or-fewer dwellings in some seller-financing contexts and one dwelling in some estate or trust contexts.
NC includes limited seller-financing and estate or trust exemptions, including three-or-fewer dwellings in some seller-financing contexts and one dwelling in some estate or trust contexts. North Carolina includes seller-financing and estate/trust related limitations among specified exemptions or exclusions, including limits such as three or fewer dwellings in some seller-financing contexts and one dwelling in some estate/trust contexts.
Why This Is the Correct Answer
NC includes limited seller-financing and estate or trust exemptions, including three-or-fewer dwellings in some seller-financing contexts and one dwelling in some estate or trust contexts. North Carolina includes seller-financing and estate/trust related limitations among specified exemptions or exclusions, including limits such as three or fewer dwellings in some seller-financing contexts and one dwelling in some estate/trust contexts.
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