North Carolina General Statutes 47E-3. Definitions
When used in this Chapter, unless the context requires otherwise, the term:
(1) “Owner” means each person having a recorded present or future interest in real estate that is identified in a real estate contract subject to this Chapter; but shall not mean or include the trustee in a deed of trust, or the owner or holder of a mortgage, deed of trust, mechanic’s or materialman’s lien, or other lien or security interest in the real property, or the owner of any easement or license encumbering the real property.
(2) “Purchaser” means each person or entity named as “buyer” or “purchaser” in a real estate contract subject to this Chapter.
(3) “Real estate contract” means a contract for the transfer of ownership of real property by the means described in N.C. Gen. Stat. § 47E-1
(4) “Real property” means the lot or parcel, and the dwelling unit(s) thereon, described in a real estate contract subject to this Chapter. (1995, c. 476, s. 1.)
Terms Used In North Carolina General Statutes 47E-3
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Owner: means each person having a recorded present or future interest in real estate that is identified in a real estate contract subject to this Chapter; but shall not mean or include the trustee in a deed of trust, or the owner or holder of a mortgage, deed of trust, mechanic's or materialman's lien, or other lien or security interest in the real property, or the owner of any easement or license encumbering the real property. See North Carolina General Statutes 47E-3
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real estate contract: means a contract for the transfer of ownership of real property by the means described in N. See North Carolina General Statutes 47E-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means the lot or parcel, and the dwelling unit(s) thereon, described in a real estate contract subject to this Chapter. See North Carolina General Statutes 47E-3
- Trustee: A person or institution holding and administering property in trust.