§ 47C-1-103. Definitions.
§ 47C‑1‑103. Definitions.
In the declaration and bylaws, unless specifically provided otherwiseor the context otherwise requires, and in this chapter:
(1) "Affiliate of a declarant" means any person whocontrols, is controlled by, or is under common control with a declarant. Aperson "controls" a declarant if the person (i) is a general partner,officer, director, or employer of the declarant, (ii) directly or indirectly oracting in concert with one or more other persons, or through one or moresubsidiaries, owns, controls, holds with power to vote, or holds proxiesrepresenting, more than twenty percent (20%) of the voting interests in thedeclarant, (iii) controls in any manner the election of a majority of thedirectors of the declarant, or (iv) has contributed more than twenty percent(20%) of the capital of the declarant. A person "is controlled by" adeclarant if the declarant (i) is a general partner, officer, director, oremployer of the person, (ii) directly or indirectly or acting in concert withone or more other persons, or through one or more subsidiaries, owns, controls,holds with power to vote, or holds proxies representing, more than twentypercent (20%) of the voting interests in the person, (iii) controls in anymanner the election of a majority of the directors of the person, or (iv) hascontributed more than twenty percent (20%) of the capital of the person.Control does not exist if the powers described in this paragraph are heldsolely as security for an obligation and are not exercised.
(2) "Allocated interests" means the undividedinterests in the common elements, the common expense liability, and votes inthe association allocated to each unit.
(3) "Association" or "unit owners'associations" means the unit owners' associations organized under G.S. 47C‑3‑101.
(4) "Common elements" means all portions of acondominium other than the units.
(5) "Common expenses" means expenditures made by orfinancial liabilities of the association, together with any allocations toreserves.
(6) "Common expense liability" means the liability forcommon expenses allocated to each unit pursuant to G.S. 47C‑2‑107.
(7) "Condominium" means real estate, portions of whichare designated for separate ownership and the remainder of which is designatedfor common ownership solely by the owners of those portions. Real estate is nota condominium unless the undivided interests in the common elements are vestedin the unit owners.
(8) "Conversion building" means a building that at anytime before creation of the condominium was occupied wholly or partially bypersons other than purchasers or by persons who occupy with the consent ofpurchasers.
(9) "Declarant" means any person or group of personsacting in concert who (i) as part of a common promotional plan offers to disposeof his or its interest in a unit not previously disposed of or (ii) reserves orsucceeds to any special declarant right.
(10) "Declaration" means any instruments, howeverdenominated, which create a condominium, and any amendments to those instruments.
(11) "Development rights" means any right or combinationof rights reserved by a declarant in the declaration to add real estate to acondominium; to create units, common elements, or limited common elementswithin a condominium; to subdivide units or convert units into common elements;or to withdraw real estate from a condominium.
(12) "Dispose" or "disposition" means avoluntary transfer to a purchaser of any legal or equitable interest in a unit,but does not include the transfer or release of a security interest.
(13) "Executive board" means the body, regardless ofname, designated in the declaration to act on behalf of the association.
(14) "Identifying number" means a symbol or address thatidentifies only one unit in a condominium.
(15) "Leasehold condominium" means a condominium inwhich all or a portion of the real estate is subject to a lease the expirationor termination of which will terminate the condominium or reduce its size.
(16) "Limited common element" means a portion of thecommon elements allocated by the declaration or by operation of G.S. 47C‑2‑102(2)or (4) for the exclusive use of one or more but fewer than all of the units.
(17) "Master association" means an organizationdescribed in G.S. 47C‑2‑120, whether or not it is also an associationdescribed in G.S. 47C‑3‑101.
(18) "Offering" means any advertisement, inducement,solicitation, or attempt to encourage any person to acquire any interest in aunit, other than as security for an obligation. An advertisement in a newspaperor other periodical of general circulation, or in any broadcast medium to thegeneral public, of a condominium not located in this State, is not an offeringif the advertisement states that an offering may be made only in compliancewith the law of the jurisdiction in which the condominium is located.
(19) "Person" means a natural person, corporation,business trust, estate, trust, partnership, association, joint venture,government, governmental subdivision or agency, or other legal or commercialentity.
(20) "Purchaser" means any person, other than adeclarant or a person in the business of selling real estate for his ownaccount, who by means of a voluntary transfer acquires a legal or equitableinterest in a unit other than (i) a leasehold interest (including renewaloptions) of less than five years, or (ii) as security for an obligation.
(21) "Real estate" means any leasehold or other estateor interest in, over, or under land, including structures, fixtures, and otherimprovements and interests which by custom, usage, or law, pass with aconveyance of land though not described in the contract of sale or instrumentof conveyance. "Real estate" includes parcels, with or without upperor lower boundaries, and spaces that may be filled with air or water.
(22) "Residential purposes" means use for dwelling orrecreational purposes, or both.
(23) "Special declarant rights" means rights reservedfor the benefit of a declarant to complete improvements indicated on plats andplans filed with the declaration (G.S. 47C‑2‑109); to exercise anydevelopment right (G.S. 47C‑2‑110); to maintain sales offices,management offices, signs advertising the condominium, and models (G.S. 47C‑2‑115);to use easements through the common elements for the purpose of makingimprovements within the condominium or within real estate which may be added tothe condominium (G.S. 47C‑2‑116); to make the condominium part of alarger condominium (G.S. 47C‑2‑121); or to appoint or remove anyofficer of the association or any executive board member during any period ofdeclarant control (G.S. 47C‑3‑103(d)).
(24) "Time share" means a "time share" asdefined in G.S. 93A‑ 41(9).
(25) "Unit" means a physical portion of the condominiumdesignated for separate ownership or occupancy, the boundaries of which aredescribed pursuant to (G.S. 47C‑2‑ 105(a)(5).
(26) "Unit owner" means a declarant or other person whoowns a unit, or a lessee of a unit in a leasehold condominium whose leaseexpires simultaneously with any lease the expiration or termination of which willremove the unit from the condominium, but does not include a person having aninterest in a unit solely as security for an obligation.
(27) "Lessee" means the party entitled to presentpossession of a leased unit whether lessee, sublessee or assignee. (1985 (Reg. Sess., 1986), c. 877, s. 1.)