North Carolina Option to Lease Real Estate (For Wireless Communications Facility)
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How to fill out Option To Lease Real Estate (For Wireless Communications Facility)?
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FAQ
Do I Need to Record a Memorandum of Lease? As I noted above, the principal reason to record a memorandum of lease is to get your lease in the chain of title. This is important because, under North Carolina law, buyers of property aren't bound by leases of longer than three years unless those leases have been recorded.
As a first concern, all leases should be in writing, even if the law does not require it. North Carolina's Statute of Frauds only requires that leases exceeding three years from the making need be in writing.
A note about lease terms ing to North Carolina G.S. § 47-18, a tenant who is leasing space for a term of more than three years should ensure that a memorandum of lease be executed and recorded in the office of the register of deeds in the county where the property is located.
If the tenant is granted rights under the lease that are enforceable against third parties (and not just the landlord), or for which third parties should be aware, a recorded memorandum of the lease describing those rights should be recorded to best protect the tenant as to those rights.
No, leases don't have to be notarized to be legally binding in North Carolina. However, many prefer this.