Land Use & ZoningIntermediateNorth Carolina Exam
In North Carolina, subdivision plats must be approved and recorded before lots can be:
APurchased by investors, in general
BConveyed or sold individuallyCorrect
CLeased commercially
DAssessed for taxes
Why Conveyed or sold individually Is Correct
Answer B: Conveyed or sold individually
North Carolina law requires that subdivision plats be approved by the local governing authority and recorded before individual lots can be conveyed to buyers.
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Key Terms to Know
1031 Exchange
A tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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