Property Ownership
A 'certificate of occupancy' (CO) in NC indicates that:
AThe property is insured against casualty
BThe building has been inspected and complies with applicable codes for the permitted use✓ Correct
CThe buyer has taken possession at closing
DThe HOA has approved the new owner
Explanation
A certificate of occupancy is issued by the local building inspection department confirming that the structure has been built or renovated in compliance with applicable codes and is safe for its intended use.
Related North Carolina Property Ownership Questions
- In North Carolina, adverse possession requires the use to be all of the following EXCEPT:
- In North Carolina, which of the following is a characteristic of tenancy in common?
- In North Carolina, a life estate grants the life tenant the right to:
- In North Carolina, 'intestate succession' refers to how property passes when:
- In a tenancy in common, each co-owner:
- A 'quitclaim deed' in NC conveys:
- A 'fee simple absolute' estate in NC is best described as:
- When a fee simple defeasible estate in NC is violated, the property:
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