Purchase Of Real Property Located In North Carolina From A Nonresident

# (a)

Every individual, fiduciary, partnership, corporation, or unit of government buying real property located in North Carolina from a nonresident individual, partnership, estate, or trust shall complete Form NC-1099NRS, Report of Sale of Real Property by Nonresidents, to report the following:

# (1)

the seller's name, address, and social security number, or federal employer identification number;

# (2)

the location of the property;

# (3)

the date of closing; and (4) the gross sales price of the real property and its associated tangible personal property.

# (b)

Within 15 days of the closing date of the sale, the buyer shall file one copy of the report with the Department and also furnish a copy of the report to the seller.

Last amended: Authority G.S. 105-154(b); 105-262; Eff. May 1, 2016.

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