North Dakota § 32-10.1-24 Effect of enforcement by mortgagee

North Dakota Statutes

§ 32-10.1-24 — Effect of enforcement by mortgagee

North Dakota § 32-10.1-24

Title 32Judicial Remedies

Ch. 32-10.1Uniform Commercial Real Estate Receivership Act

This text of North Dakota § 32-10.1-24 (Effect of enforcement by mortgagee) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 32-10.1-24 (2026).

Text

1.A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or application by a mortgagee of receivership property or proceeds to the secured obligation does not:

a.Make the mortgagee a mortgagee in possession of the real property;

b.Make the mortgagee an agent of the owner;

c.Constitute an election of remedies that precludes a later action to enforce the secured obligation;

d.Make the secured obligation unenforceable;

e.Limit any right available to the mortgagee with respect to the secured obligation; or

f.Except as otherwise provided in subsection 2, bar a deficiency judgment in accordance with any other provision of law governing or relating to a deficiency judgment.

2.If a receiver sells receivership property that under subsection 3 of section 32-10

Free access — add to your briefcase to read the full text and ask questions with AI

1. A request by a mortgagee for appointment of a receiver, the appointment of a receiver,
or application by a mortgagee of receivership property or proceeds to the secured
obligation does not:
a. Make the mortgagee a mortgagee in possession of the real property;
b. Make the mortgagee an agent of the owner;
c. Constitute an election of remedies that precludes a later action to enforce the
secured obligation;
d. Make the secured obligation unenforceable;
e. Limit any right available to the mortgagee with respect to the secured obligation;
or
f. Except as otherwise provided in subsection 2, bar a deficiency judgment in
accordance with any other provision of law governing or relating to a deficiency
judgment.
2. If a receiver sells receivership property that under subsection 3 of section 32-10.1-15
is free of a lien, the ability of a creditor to enforce an obligation that had been secured
by the lien is subject to the law of this state other than this chapter relating to a
deficiency judgment.