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House approves bill saying presence on transportation wish list not automatically a material fact in property sales
Summary
The N.C. House passed House Bill 15, which states that merely listing property on a Comprehensive Transportation Plan (CTP) is not, by itself, a material fact that must be disclosed in a real estate transaction; the bill passed second-reading 92-25 and later cleared third reading and will be sent to the Senate.
Representative Hastings, sponsor of House Bill 15, told the House the measure was "an act to clarify that the inclusion of real property on a comprehensive transportation plan is not a required disclosure or a material fact for the purposes of disclosure for real estate transactions." He said the bill aims to protect private property transactions from being blocked by long-term, unfunded plan listings.
The bill’s backers argued the public cannot reliably find or interpret Comprehensive Transportation Plans (CTPs) and that a CTP listing — which Hastings described as a long-term "wish list" distinct from fiscally constrained Metropolitan Transportation Plans — should not automatically create title or insurance problems…
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