47C-4-116. Statute of limitations for warranties.
(a) A judicial proceeding for breach of any obligation arising under G.S. 47C-4-113 or 47C-4-114 must be commenced within the applicable period of limitations set out in Chapter 1 of the North Carolina General Statutes.
(b) If a warranty of quality explicitly extends to future performance or duration of any improvement or component of the condominium, the cause of action accrues at the time the breach is discovered or at the end of the period for which the warranty explicitly extends, whichever is earlier. (1985 (Reg. Sess., 1986), c. 877, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 47C - North Carolina Condominium Act
Article 4 - Protection of Purchasers.
§ 47C-4-101 - Applicability; waiver.
§ 47C-4-102 - Liability for public offering statement requirements.
§ 47C-4-103 - Public offering statement; general provisions.
§ 47C-4-104 - Same; condominiums subject to developmental rights.
§ 47C-4-105 - Same; time share.
§ 47C-4-106 - Conversion buildings.
§ 47C-4-107 - Same; condominium securities.
§ 47C-4-108 - Purchaser's right to cancel.
§ 47C-4-109 - Resales of units.
§ 47C-4-110 - Escrow of deposits.
§ 47C-4-111 - Release of liens or encumbrances.
§ 47C-4-113 - Express warranties of quality.
§ 47C-4-114 - Implied warranties of quality.
§ 47C-4-115 - Exclusion of modification of implied warranties of quality.
§ 47C-4-116 - Statute of limitations for warranties.
§ 47C-4-117 - Effect of violations on rights of action; attorney's fees.
§ 47C-4-118 - Labeling of promotional material.