State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_47F > GS_47F-1-107

§47F‑1‑107.  Eminent domain.

(a)        If a lot isacquired by eminent domain, or if part of a lot is acquired by eminent domainleaving the lot owner with a remnant which may not practically or lawfully beused for any purpose permitted by the declaration, the award shall compensatethe lot owner for his lot and its interest in the common element. Uponacquisition, unless the decree otherwise provides, the lot's allocatedinterests are automatically reallocated to the remaining lots in proportion tothe respective allocated interests of those lots before the taking, exclusiveof the lot taken.

(b)        Except as providedin subsection (a) of this section, if part of a lot is acquired by eminentdomain, the award shall compensate the lot owner for the reduction in value ofthe lot. Upon acquisition, unless the decree otherwise provides, (i) that lot'sallocated interests are reduced in proportion to the reduction in the size ofthe lot, or on any other basis specified in the declaration, and (ii) theportion of the allocated interests divested from the partially acquired lot areautomatically reallocated to that lot and the remaining lots in proportion tothe respective allocated interests of those lots before the taking, with thepartially acquired lot participating in the reallocation on the basis of itsreduced allocated interests.

(c)        If there is anyreallocation under subsection (a) or (b) of this section, the association shallpromptly prepare, execute, and record an amendment to the declarationreflecting the reallocations. Any remnant of a lot remaining after part of alot is taken under this subsection is thereafter a common element.

(d)        If part of thecommon elements is acquired by eminent domain, the portion of the awardattributable to the common elements taken shall be paid to the association.Unless the declaration provides otherwise, any portion of the awardattributable to the acquisition of a limited common element shall beapportioned among the owners of the lots to which that limited common elementwas allocated at the time of acquisition based on their allocated interest inthe common elements before the taking.

(e)        The court decreeshall be recorded in every county in which any portion of the planned communityis located. (1998‑199, s. 1.)