Land Use & ZoningIntermediateNorth Carolina Exam
In North Carolina, a certificate of occupancy (CO) is issued when:
AA new listing is placed in the MLS
BA newly constructed or renovated building meets all code requirements and is safe for occupancyCorrect
CA property is sold and title is transferred, though outcomes can differ depending on circumstances
DA tenant signs a lease agreement
Why A newly constructed or renovated building meets all code requirements and is safe for occupancy Is Correct
Answer B: A newly constructed or renovated building meets all code requirements and is safe for occupancy
A certificate of occupancy is issued by local government after a building inspection confirms the structure complies with applicable codes and is safe for occupancy.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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