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If, subsequent to the owner's delivery of a residential property disclosure statement, the mineral and oil and gas rights mandatory disclosure statement, or the owners' association and mandatory covenants disclosure statement to a purchaser, the owner discovers a material inaccuracy in a disclosure statement, or a disclosure statement is rendered inaccurate in a material way by the occurrence of some event or circumstance, the owner shall promptly correct the inaccuracy by delivering a corrected disclosure statement or statements to the purchaser. Failure to deliver a corrected disclosure statement or to make the repairs made necessary by the event or circumstance shall result in such remedies for the buyer as are provided for by law in the event the sale agreement requires the property to be in substantially the same condition at closing as on the date of the offer to purchase, reasonable wear and tear excepted.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 47E. Residential Property Disclosure Act § 47E-7. Change in circumstances - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-47e-residential-property-disclosure-act/nc-gen-st-sect-47e-7.html
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