North Carolina Option to Purchase Common Stock
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How to fill out Option To Purchase Common Stock?
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FAQ
North Carolina General Statutes 47G-1 through 47G-7 govern the rent-to-own, or ?option contract? law. There are minimum contract requirements that must be present before the rent-to-own lease agreement is considered valid.
In fact, it could be a great opportunity for those who may not qualify for a traditional mortgage due to credit conditions or debt or who might not yet be ready to own a home. The key to a successful rent-to-own agreement is a clear contract that spells out the details of the arrangement.
An option ... is a contract by which the owner of property agrees with another that he shall have the right to purchase the same at a fixed price within a certain time. It is in legal effect an offer to sell, coupled with an agreement to hold .
In a ?right to cure state,? you have a certain amount of time to pay your past-due debt by state law. North Carolina has that right for certain foreclosure matters, but not for motor vehicle repossession. Your contract and your lender determine whether you can cure your default by paying the past-due amount.
Short answer: North Carolina doesn't allow local governments to limit how much private landlords can charge for rent. Some economists believe rent control policies are misguided, and the state's preemptive ban, passed in 1987, has largely chilled discussions on the topic over the past 30 years.
Is North Carolina Landlord-Friendly? Yes, North Carolina is landlord-friendly, especially given that evictions can be immediate in certain circumstances, and no notice is required to enter the property.
North Carolina law says that your landlord must keep your housing fit and safe. It also says that you, the tenant, must pay your rent, keep your home clean, and not damage your home. To make the law work, both the tenant and the landlord must do their part.