§ 47A-34. Definitions. - North Carolina Statutes

Article2.

Renters in ConversionBuildings Protected.

§ 47A‑34.  Definitions.

The definitions set out inG.S. 47A‑3 also apply to this Article. As used in this Article, unlessthe context requires otherwise, the term:

(1)        "Conversionbuilding" means a building that at any time before creation of thecondominium was occupied wholly or partially by persons other than purchasersand persons who occupy with the consent of purchasers.

(2)        "Declarant"means any person or group of persons acting in concert who, as part of a commonpromotional plan, offers to dispose of his or its interest in a unit notpreviously disposed of.

(3)        "Dispose"or "disposition" means a voluntary transfer to a purchaser of anylegal or equitable interest in a unit, but does not include the transfer orrelease of a security interest.

(4)        "Offering"means any advertisement, inducement, solicitation, or attempt to encourage anyperson to acquire any interest in a unit, other than as security for anobligation.

(5)        "Residentialpurposes" means use for dwelling or recreational purposes, or both. (1983,c. 624, s. 1.)