Posted by Steve on April 04, 2008 at 22:46:27:
No, the bill has been watered down that it only effects Subject-To and at this point all you would need to do is notify the bank because of the due-on-sale clause. It has been stalled in legislature. You can thank the local and national REI groups for their lobbying efforts. And I can continue to put food on the table!
Are Lease Options illegal in NC? - Posted by Miles
Posted by Miles on March 31, 2008 at 16:07:50:
Just wondering if anyone has heard anything about this. I’m trying to set up a Rent to Own for a friend of mine, but I want to be sure it’s ok. I heard sub 2’s are illegal in NC, but I wanted to check on lease options. If they are illegal, what make it so?
Re: Are Lease Options illegal in NC? - Posted by LeasePurchase
Posted by LeasePurchase on April 04, 2008 at 21:17:13:
Not yet, but they should be. I do know that legislation has been introduced to officially make them and all forms of Seller Assisted or Subject-To arrangments illegal, somewhat like Texas.