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What Lake Norman Buyers & Sellers Should Know About Mineral, Oil & Gas Rights
Effective January 1st of this year, The State of North Carolina added a new disclosure form that must be signed by both parties of a residential property transaction as part of the initial purchase contract. The State of North Carolina Mineral and Oil and Gas Rights Mandatory Disclosure Statement requires all sellers of new or existing homes in North Carolina to disclose whether the mineral, oil and gas rights for the property are owned by someone other than the seller.
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