Residential Property and Owners' Association Disclosure Statement (RPOADS) — NCREC Form REC 4.22, plus the separate Mineral and Oil and Gas Rights Mandatory Disclosure Statement (MOGS) — N.C. Gen. Stat. Chapter 47E, the "Residential Property Disclosure Act" (key sections: §47E-1 scope, §47E-2 exemptions, §47E-4 required disclosures, §47E-4.1 mineral/oil/gas rights disclosure, §47E-5 timing and contract cancellation right). Most recently amended by Session Law 2025-25, s. 29(1).
North Carolina is NOT a pure caveat emptor state — it has a statutory disclosure mandate (Chapter 47E), but the mandate is a "disclose-if-you-know, or opt out" system rather than an affirmative duty to investigate. Sellers of residential property (1-4 dwelling units, including condos/townhomes) must furnish buyers with two separate forms before an offer is made: (1) the Residential Property and Owners' Association Disclosure Statement (RPOADS, NCREC Form REC 4.22), and (2) the Mineral and Oil and Gas Rights Mandatory Disclosure Statement (MOGS). Critically, for nearly every item on the RPOADS the seller may legally check "No Representation" instead of Yes/No, which relieves the seller of any duty to disclose that item even if a problem is later discovered — this is the closest analog to caveat emptor within an otherwise disclosure-based regime. Where a seller does check Yes/No, they must disclose based on actual knowledge only (no duty to investigate or discover unknown defects). Brokers, separately, have an independent duty under license law to disclose material facts they actually know regardless of what the seller's form says. Failure to timely provide the statements gives the buyer a right to cancel the contract within 3 days of contract formation or receipt of the statement, whichever is later.
The statute was most recently amended by Session Law 2025-25, s. 29(1), modifying G.S. 47E-4 (confirmed via the official current statute PDF from ncleg.gov); the precise substantive effect of this specific amendment is not yet clearly documented in secondary/practitioner sources found, so it should be verified directly against the NCREC's current form revision notes or legislative bill text. The last amendments with well-documented substantive effect were: 2014-120, s.49(a) (eff. Jan 1, 2015), which added the mandatory mineral/oil/gas rights disclosure (new §47E-4.1) and repealed old subsection (b2); and 2011-362, s.3, which added the owners' association and mandatory covenants disclosure statement requirement. No further 2026 legislative session changes to Chapter 47E were identified in this research.
Facts on this page reflect research current as of 2026-07-05. Programs, rates, and laws change — confirm current figures with the relevant state agency before relying on them.