North Carolina General Statutes 47H-7. Late fees
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No seller may charge a late payment charge under a contract for deed in excess of four percent (4%) of the amount of the payment past due. A late fee may only be charged on payments that are more than 15 days past due. ?(2010-164, s. 4.)
Terms Used In North Carolina General Statutes 47H-7
- 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.