NC H960

Amends G.S. 136-112 to allow consideration of outstanding mortgage debt exceeding fair market value when determining damages in condemnation actions for principal residences only.

Permits property owners to recover the difference between their mortgage balance and the fair market value amount, but only if they prove by preponderance of evidence that property value declined solely due to market decline.

Defines "eligible mortgage" as debt secured by mortgage or deed of trust executed before July 1, 2008, with the condemned property identified as collateral.

Applies only to condemnation of principal residences, not other properties.

Expires July 1, 2014.