Question

48) Under the NC Residential Property Disclosure Act, a licensee should inform and request that all of the following sellers complete the Mineral, Oil & Gas (MOG) disclosure, EXCEPT:

A) an investor selling an SFR vacation rental unit
B) a seller who is selling a parcel of vacant land
C) a developer selling a new home in a subdivision
D) a couple selling their primary residence

Answer 1

All sellers should complete the MOG disclosure under the NC Residential Property Disclosure Act.

Step-by-step explanation:

Under the NC Residential Property Disclosure Act, a licensee should inform and request that all sellers complete the Mineral, Oil & Gas (MOG) disclosure, regardless of their specific circumstances. This includes sellers who are:

1. Investors selling an SFR vacation rental unit
2. Sellers who are selling a parcel of vacant land
3. Developers selling a new home in a subdivision
4. Couples selling their primary residence

Therefore, the correct answer to your question is there are no exceptions. All sellers should complete the MOG disclosure under the NC Residential Property Disclosure Act.