(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.