17 NCAC 06B .3906          PURCHASE OF REAL PROPERTY LOCATED IN North Carolina FROM A NONRESIDENT

(a)  Every individual, fiduciary, partnership, corporation, or unit of government buying real property located in North Carolina from a nonresident individual, partnership, estate, or trust shall complete Form NC‑1099NRS, Report of Sale of Real Property by Nonresidents, to report the following:

(1)           the seller's name, address, and social security number, or federal employer identification number;

(2)           the location of the property;

(3)           the date of closing; and

(4)           the gross sales price of the real property and its associated tangible personal property.

(b)  Within 15 days of the closing date of the sale, the buyer shall file one copy of the report with the Department and also furnish a copy of the report to the seller.

History Note:        Authority G.S. 105‑154(b); 105‑262;

Eff. May 1, 2016.