45-21.47. Validation of foreclosure sales when trustee is officer of owner of debt.
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.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 45 - Mortgages and Deeds of Trust
Article 2C - Validating Sections; Limitation of Time for Attacking Certain Foreclosures.
§ 45-21.42 - Validation of deeds where no order or record of confirmation can be found.
§ 45-21.43 - Validation of certain foreclosure sales.
§ 45-21.44 - Validation of foreclosure sales when provisions of G.S45-21.17(2) not complied with.
§ 45-21.45 - Validation of foreclosure sales where notice and hearing not provided.
§ 45-21.46 - Validation of foreclosure sales where posting and publication not complied with.
§ 45-21.47 - Validation of foreclosure sales when trustee is officer of owner of debt.
§ 45-21.48 - Validation of certain foreclosure sales that did not comply with posting requirement.
§ 45-21.49 - Validation of foreclosure sales when provisions of § 45-21.16A(a)(3) not complied with.