State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_47E > GS_47E-3

§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 estatethat is identified in a real estate contract subject to this Chapter; but shallnot mean or include the trustee in a deed of trust, or the owner or holder of amortgage, deed of trust, mechanic's or materialman's lien, or other lien orsecurity interest in the real property, or the owner of any easement or licenseencumbering 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 estatecontract" means a contract for the transfer of ownership of real propertyby the means described in G.S. 47E‑1.

(4)        "Realproperty" 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.)