North Carolina General Statutes 47-119. Memorandum for option to purchase or convey, right of first refusal, or right of first offer for real estate
An option to purchase or convey, a right of first refusal, or a right of first offer for real estate may be registered by registering a memorandum that sets forth all of the following:
(1) The names and signatures, executed and notarized, of all of the following:
a. Each record title holder selling the option or right.
b. Each person purchasing the option or right.
(2) A description of the real estate that is subject to the option or right.
(3) The expiration date of the option or right.
(4) The title of the agreement and the parties to it, as contained in the original written contract, or other reference sufficient to identify the complete agreement between the parties. ?(1961, c. 1174; 1999-456, s. 59; 2022-64, s. 2(a).)
Terms Used In North Carolina General Statutes 47-119
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3