Or perhaps one might call it another of the former governor’s Immaculate Exceptions.

Carolina Journal Executive Editor Don Carrington has the story this morning of an odd real-estate deal that Mike Easley conducted with outgoing Senate Majority Leader Tony Rand on a property at Bald Head Island. Some of the same elements appear to be present there as in the later Cannonsgate deal: a less-the-market sale price, political overtones, and a puzzling paper trail:

Public records indicate Easley paid $250,000 for the new home when he took title in June 1996. The completed home was added to the Brunswick County tax records with an assigned value of $329,440, or $79,440 more than the amount public records indicated the Easleys paid for the home.

There is no recorded deed of trust associated with the transaction, which would be required if Easley had obtained a mortgage. It’s not clear where Easley acquired the money to pay for the Bald Head Island house and property.

Brunswick County tax records currently list the tax value of the Easley Bald Head Island home at $979,270.

In another unorthodox arrangement, after Rand transferred Lot 619 to the developer another eight months passed before the deed was recorded. Rand acknowledged the delay to CJ but didn’t explain it. How much credit Easley received for the lot is not known because representatives from Bald Head Island Limited refused to discuss the transaction with CJ.

There’s much, much more. Read all about it.

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