Under the NC Planned Community Act (Chapter 47F), a homeowners' association in a planned community created after October 1, 1998 has authority to:
Why Levy assessments, enforce covenants, and foreclose on properties for unpaid dues Is Correct
Answer B: Levy assessments, enforce covenants, and foreclose on properties for unpaid dues
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
People Also Study
Related North Carolina Questions
- The NC Planned Community Act (Chapter 47F) applies to residential planned communities created after:Property Ownership
- The NC Homeowners Association Act (Chapter 47F) requires HOAs to provide unit owners with how many days' notice before a special assessment?Property Ownership
- Under NC's NC Homeowners Association Act (Chapter 47F), an HOA has the authority to:Property Ownership
- The NC Planned Community Act (Chapter 47F) requires residential HOAs to:Property Ownership
- A NC homeowners association that enforces rules differently based on residents' national origin would be violating:Fair Housing
- A NC condo association that enforces rules more strictly against Black residents than white residents with the same violations has engaged in:Fair Housing
Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
Math Concepts
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →