NC H642

Clarifies that restrictive covenants applicable to a general or uniform scheme of development restricting property to residential use (single-family, multifamily, or residential only) are excepted from the Marketable Title Act, provided the covenants are otherwise enforceable.

Specifies that restrictive covenants other than those limiting property to residential use in this subdivision are not excepted and are subject to the Marketable Title Act provisions.

Preserves covenants in declarations applicable to condominiums (Chapter 47A or 47C), cooperatives (Chapter 47F), and planned communities under Chapter 47F, with an exception for planned communities created before January 1, 1999 unless governed by an owners' association existing as of July 1, 2022.

Becomes effective upon enactment.