North Carolina General Statutes 47E-9. Rights and duties under Chapter 42, landlord and tenant, not affected during lease
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This Chapter shall not affect the landlord-tenant relationship between the parties to a lease with option to purchase contract during the term of the lease, and the rights and duties of landlords and tenants under Chapter 42 of the N.C. Gen. Stat. shall remain in effect until transfer of ownership of the property to the purchaser. (1995, c. 476, s. 1.)
Terms Used In North Carolina General Statutes 47E-9
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Purchaser: means each person or entity named as "buyer" or "purchaser" in a real estate contract subject to this Chapter. See North Carolina General Statutes 47E-3