AN ACT to convey certain real property on which is situated the north carolina agricultural and technical state university chancellor's residence.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  The State of North Carolina shall convey to The North Carolina A&T Real Estate Foundation, Inc. (the Grantee), for consideration of one dollar ($1.00), all its rights, titles, and interests in the parcel identified with Land Asset ID 1128 in the inventory of State‑owned land maintained by the Department of Administration pursuant to G.S. 143‑341. This is the same property identified with PIN Number 7866‑15‑4390, as seen in the Office of the Tax Administrator in Guilford County, and is described in Deed Book 4884, Page 1816 in the Guilford County Register of Deeds.

SECTION 1.(b)  In the event that the Grantee sells the real property described in this section, the Grantee shall use the proceeds of the sale for the purchase of a new Chancellor's residence for the North Carolina Agricultural and Technical State University.

SECTION 2.  The State of North Carolina shall convey the real property described in Section 1 of this act as is and where is without warranty. The State makes no representations or warranties concerning the title to the property, the boundaries of the property, the uses to which the property may be put, zoning, local ordinances, or any physical, environmental, health, and safety conditions relating to the property.

SECTION 3.  The conveyance of the State's rights, titles, and interests in the real property described in Section 1 of this act shall be exempt from the provisions of Article 7 of Chapter 146 of the General Statutes. The conveyance shall comply with the provisions of Article 16 of Chapter 146 of the General Statutes, provided that the provisions of G.S. 146‑74 shall not apply.

SECTION 4.  There is appropriated from the General Fund to the Department of Administration the sum of five thousand dollars ($5,000) in nonrecurring funds for the 2025‑2026 fiscal year to offset the costs to the Department for the real estate transaction described in this act.

SECTION 5.  This act is effective when it becomes law.