North Carolina § 45-21.47 Validation of foreclosure sales when trustee is officer of owner of debt

North Carolina Statutes

§ 45-21.47 — Validation of foreclosure sales when trustee is officer of owner of debt

North Carolina § 45-21.47

Ch. 45Mortgages and Deeds of Trust

Art. 2CValidating Sections; Limitation of Time for Attacking Certain Foreclosures

This text of North Carolina § 45-21.47 (Validation of foreclosure sales when trustee is officer of owner of debt) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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N.C. Gen. Stat. § 45-21.47 (2026).

Text

All sales of real property made prior to January 1, 1991, under a power of sale contained in a mortgage or deed of trust for which the trustee was an officer, director, attorney, agent, or employee of the owner of all or part of the debt secured by the mortgage or deed of trust are validated and have the same effect as if the trustee had not been an officer, director, attorney, agent, or employee of the owner of the debt unless an action to set aside the foreclosure is commenced within one year after January 1, 1991. (1983, c. 582, s. 1; 1985, c. 604; 1987, c. 277, s. 10; 1989, c. 390, s. 10; 1991, c. 489, s. 10.)

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All sales of real property made prior to January 1, 1991, under a power of sale contained in a mortgage or deed of trust for which the trustee was an officer, director, attorney, agent, or employee of the owner of all or part of the debt secured by the mortgage or deed of trust are validated and have the same effect as if the trustee had not been an officer, director, attorney, agent, or employee of the owner of the debt unless an action to set aside the foreclosure is commenced within one year after January 1, 1991. (1983, c. 582, s. 1; 1985, c. 604; 1987, c. 277, s. 10; 1989, c. 390, s. 10; 1991, c. 489, s. 10.)