Property Ownership
A 'ground lease' in NC for a period exceeding 3 years must be:
AOnly registered with the NCREC
BIn writing, signed, notarized, and recorded to be enforceable against third parties✓ Correct
CApproved by the county commissioners
DOnly entered into by commercial entities
Explanation
Ground leases exceeding 3 years must comply with the NC Statute of Frauds requirements — they must be in writing, signed, acknowledged (notarized), and recorded to be enforceable against subsequent purchasers.
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