A transaction coordinator in Cary is sorting out a file issue involving Mineral and Oil and Gas disclosure timing, scope, and waiver limits. Which statement best applies under current North Carolina law?
Correct Answer
C) The MOG disclosure addresses whether rights were severed previously, severed by the seller, or intended to be severed before transfer.
The MOG disclosure addresses whether rights were severed previously, severed by the seller, or intended to be severed before transfer.
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Related Topics & Key Terms
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Related Concepts
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
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