GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 785

HOUSE BILL 206

 

AN ACT TO SIMPLIFY THE LISTING OF REAL AND PERSONAL PROPERTY IN TIME-SHARING ARRANGEMENTS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 105-302(c) is amended by adding a new subdivision (13) to read as follows:

"(13)   Real property, owned under a time-sharing arrangement but managed by a homeowners association or other managing entity, shall be listed in the name of the managing entity."

Sec. 2.  G.S. 105-306(c) is amended by adding a new subdivision (9) to read as follows:

"(9)      Personal property, owned under a time-sharing arrangement but managed by a homeowners association or other managing entity, shall be listed in the name of the managing entity."

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 18th day of July, 1983.