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N.C. Gen. Stat. § 44A-24.2

Definitions

Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
The following definitions apply in this Part:
The following definitions apply in this Part:
(1) Broker. - A real estate broker licensed pursuant to Chapter 93A of the General Statutes.
(1) Broker. — A real estate broker licensed pursuant to Chapter 93A of the General Statutes.
(2) Broker services. - Services for which a license issued by the North Carolina Real Estate Commission is required pursuant to Chapter 93A of the General Statutes.
(2) Broker services. — Services for which a license issued by the North Carolina Real Estate Commission is required pursuant to Chapter 93A of the General Statutes.
(3) Commercial real estate. - Any real property or interest therein, whether freehold or nonfreehold, which at the time the property or interest is made the subject of an agreement for broker services: Is lawfully used primarily for sales, office, research, institutional, agricultural, forestry, warehouse, manufacturing, industrial, or mining purposes or for multifamily residential purposes involving five or more dwelling units;
(3) Commercial real estate. — Any real property or interest therein, whether freehold or nonfreehold, which at the time the property or interest is made the subject of an agreement for broker services: Is lawfully used primarily for sales, office, research, institutional, agricultural, forestry, warehouse, manufacturing, industrial, or mining purposes or for multifamily residential purposes involving five or more dwelling units;
(4) May lawfully be used for any of the purposes listed in sub-subdivision (3)a. of this section by a zoning ordinance adopted pursuant to the provisions of Article 18 of Chapter 153A or Article 19 of Chapter 160A of the General Statutes or which is the subject of an official application or petition to amend the applicable zoning ordinance to permit any of the uses listed in sub-subdivision (3)a. of this section which is under consideration by the government agency with authority to approve the amendment; or
(4) May lawfully be used for any of the purposes listed in sub-subdivision (3)a. of this section by a zoning ordinance adopted pursuant to the provisions of Article 18 of Chapter 153A or Article 19 of Chapter 160A of the General Statutes or which is the subject of an official application or petition to amend the applicable zoning ordinance to permit any of the uses listed in sub-subdivision (3)a. of this section which is under consideration by the government agency with authority to approve the amendment; or
(5) Is in good faith intended to be immediately used for any of the purposes listed in sub-subdivision (3)a. of this section by the parties to any contract, lease, option, or offer to make any contract, lease, or option.
(5) Is in good faith intended to be immediately used for any of the purposes listed in sub-subdivision (3)a. of this section by the parties to any contract, lease, option, or offer to make any contract, lease, or option.
(6) Commission. - Any compensation which is due a broker for performance of broker services.
(6) Commission. — Any compensation which is due a broker for performance of broker services.
(7) Lien claimant. - A broker claiming a lien pursuant to this Part.
(7) Lien claimant. — A broker claiming a lien pursuant to this Part.
(8) Owner. - The owner of record of any interest in commercial real estate.
(8) Owner. — The owner of record of any interest in commercial real estate.
History
(2011-165, s. 1; 2012-194, s. 15; 2017-211, s. 17.)
Effect of Amendments. - Session Laws 2012-194, s. 15, effective July 17, 2012, substituted "sub-subdivision (3)a." for "subdivision (3)" twice in sub-subdivision (3)b. and once in sub-subdivision (3)c.
Session Laws 2017-211, s. 17, effective October 5, 2017, inserted "agricultural, forestry" in subdivision (3)a

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.