47A-5. Nature and incidents of unit ownership.
Unit ownership as created and defined in this Article shall vest in the holder exclusive ownership and possession with all the incidents of real property. A condominium unit in the building may be individually conveyed, leased and encumbered and may be inherited or devised by will, as if it were solely and entirely independent of the other condominium units in the building of which it forms a part. Such a unit may be held and owned by more than one person either as tenants in common or tenants by the entirety or in any other manner recognized under the laws of this State. (1963, c. 685, s. 5; 1983, c. 624, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 1 - Unit Ownership Act.
§ 47A-2 - Declaration creating unit ownership; recordation.
§ 47A-4 - Property subject to Article.
§ 47A-5 - Nature and incidents of unit ownership.
§ 47A-7 - Common areas and facilities not subject to partition or division.
§ 47A-8 - Use of common areas and facilities.
§ 47A-10 - Compliance with bylaws, regulations and covenants; damages; injunctions.
§ 47A-11 - Unit owners not to jeopardize safety of property or impair easements.
§ 47A-12 - Unit owners to contribute to common expenses; distribution of common profits.
§ 47A-13 - Declaration creating unit ownership; contents; recordation.
§ 47A-14.1 - Deeds conveying units.
§ 47A-16 - Termination of unit ownership; consent of lienholders; recordation of instruments.
§ 47A-17 - Termination of unit ownership; no bar to reestablishment.
§ 47A-18 - Bylaws; annexed to declaration; amendments.
§ 47A-20 - Records of receipts and expenditures; availability for examination; annual audit.
§ 47A-21 - Units taxed separately.
§ 47A-22 - Liens for unpaid common expenses; recordation; priorities; foreclosure.
§ 47A-23 - Liability of grantor and grantee of unit for unpaid common expenses.
§ 47A-24 - Insurance on property; right to insure units.
§ 47A-27 - Zoning regulations governing condominium projects.