§ 136-66.11. Transfer of severable development rights.
§136‑66.11. Transfer of severable development rights.
(a) When used in thissection and in G.S. 136‑66.10, the term "severable developmentright" means the potential for the improvement or subdivision of part orall of a parcel of real property, as permitted under the terms of a zoningand/or subdivision ordinance, expressed in dwelling unit equivalents or othermeasures of development density or intensity or a fraction or multiple of thatpotential that may be severed or detached from the parcel from which they arederived and transferred to one or more other parcels located in receivingdistricts where they may be exercised in conjunction with the use orsubdivision of property, in accordance with the provisions of this section.
(b) A city or countymay provide in its zoning and subdivision control ordinances for theestablishment, transfer, and exercise of severable development rights toimplement the provisions of G.S. 136‑66.10 and this section.
(c) City or countyzoning or subdivision control provisions adopted pursuant to this authorityshall provide that if right‑of‑way area is dedicated and severabledevelopment rights are provided pursuant to G.S. 136‑66.10(a)(2) and thissection, within 10 days after the approval of the final subdivision plat or issuanceof the building permit, the city or county shall convey to the dedicator a deedfor the severable development rights that are attributable to the right‑of‑wayarea dedicated under those subdivisions. If the deed for the severabledevelopment rights conveyed by the city or county to the dedicator is notrecorded in the office of the register of deeds within 15 days of its receipt,the deed shall be null and void.
(d) In order to providefor the transfer of severable development rights pursuant to this section, thegoverning board shall amend the zoning ordinance to designate severabledevelopment rights receiving districts. These districts may be designated asseparate use districts or as overlaying other zoning districts. No severabledevelopment rights shall be exercised in conjunction with the development ofsubdivision of any parcel of land that is not located in a receiving district. A city or county may, however, limit the maximum development density orintensity or the minimum size of lots allowed when severable development rightsare exercised in conjunction with the development or subdivision of anyeligible site in a receiving district. No plat for a subdivision inconjunction with which severable development rights are exercised shall berecorded by the register of deeds, and no new building, or part thereof, oraddition to or enlargement of an existing building, that is part of adevelopment project in conjunction with which severable development rights areexercised shall be occupied, until documents have been recorded in the officeof the register of deeds transferring title from the owner of the severabledevelopment rights to the granting city or county and providing for theirsubsequent extinguishment. These documents shall also include any otherinformation that the city or county ordinance may prescribe.
(e) In order toimplement the purposes of this section a city or county may by ordinance adoptregulations consistent with the provisions of this section.
(f) A severabledevelopment right shall be treated as an interest in real property. Once adeed for severable development rights has been transferred by a city or countyto the dedicator and recorded, the severable development rights shall vest andbecome freely alienable. (1987, c. 747, s. 7.)