North Carolina General Statutes Chapter 45 Mortgages and Deeds of Trust

Article 1 - Chattel Securities.

  • N.C. Gen. Stat. § 45-1 through 45-3.1.   Repealed by Sessions Laws 1967, c. 562, s. 2

Article 2 - Right to Foreclose or Sell under Power.

  • N.C. Gen. Stat. § 45-4.   Representative succeeds on death of mortgagee or trustee in deeds of trust; parties to action
    When the mortgagee in a mortgage, or the trustee in a deed in trust, executed for the purpose of securing a debt, containing a...
  • N.C. Gen. Stat. § 45-5.   Foreclosures by representatives validated
    In all actions which were brought or prosecuted prior to the fourth day of March, 1905, for the foreclosure of any mortgage or deed...
  • N.C. Gen. Stat. § 45-6.   Renunciation by representative; clerk appoints trustee
    The executor or administrator of any deceased mortgagee or trustee in any mortgage or deed of trust heretofore or hereafter executed may renounce in...
  • N.C. Gen. Stat. § 45-7.   Agent to sell under power may be appointed by parol
    All sales of real property, under a power of sale contained in any mortgage or deed of trust to secure the payment of money,...
  • N.C. Gen. Stat. § 45-8.   Survivorship among donees of power of sale
    In all mortgages and deeds of trust of real property wherein two or more persons, as trustees or otherwise, are given power to sell...
  • N.C. Gen. Stat. § 45-9.   Clerk appoints successor to incompetent trustee
    When the sole or last surviving trustee named in a will or deed of trust dies, removes from the county where the will was...
  • N.C. Gen. Stat. § 45-10.   Substitution of trustees in mortgages and deeds of trust
    (a) In addition to the rights and remedies now provided by law, the holders or owners of a majority in amount of the indebtedness,...
  • N.C. Gen. Stat. § 45-11.   Appointment of substitute trustee upon application of subsequent or prior lienholders; effect of substitution
    When any person, firm, corporation, county, city or town holding a lien on real property upon which there is a subsequent or prior lien...
  • N.C. Gen. Stat. § 45-12.   Repealed by Session Laws 1973, c. 1208
  • N.C. Gen. Stat. § 45-13.   Repealed by Session Laws 1981, c. 599, s. 12
  • N.C. Gen. Stat. § 45-14.   Acts of trustee prior to removal not invalidated
    If any such trustee who has been substituted as provided in G.S. 45-10 or in G.S. 45-11 shall have performed any functions as such...
  • N.C. Gen. Stat. § 45-15.   Registration of substitution constructive notice
    The registration of such paper-writing designating a new trustee under G.S. 45-10 or under G.S. 45-11 shall be from and after registration, constructive notice...
  • N.C. Gen. Stat. § 45-16.   Repealed by Session Laws 2012-18, s. 1.2, effective July 1, 2012
  • N.C. Gen. Stat. § 45-17.   Substitution made as often as justifiable
    The powers set out in G.S. 45-10 and in G.S. 45-11 may be exercised as often and as many times as the right to...
  • N.C. Gen. Stat. § 45-18.   Validation of certain acts of substituted trustees
    Whenever before January 1, 1979, a trustee has been substituted in a deed of trust in the manner provided by G.S. 45-10 to 45-17,...
  • N.C. Gen. Stat. § 45-19.   Mortgage to guardian; powers pass to succeeding guardian
    When a guardian to whom a mortgage has been executed dies or is removed or resigns before the payment of the debt secured in...
  • N.C. Gen. Stat. § 45-20.   Sales by mortgagees and trustees confirmed
    All sales of real property made prior to February 10, 1905, by mortgagees and trustees under powers of sale contained in any mortgage or...
  • N.C. Gen. Stat. § 45-20.1.   Validation of trustees' deeds where seals omitted
    All deeds executed prior to January 1, 1991, by any trustee or substitute trustee in the exercise of the power of sale vested in...
  • N.C. Gen. Stat. § 45-20.2.   Repealed by Session Laws 1981, c. 183, s. 2
  • N.C. Gen. Stat. § 45-20.3.   Validation of deeds where seal omitted on power of attorney
    All deeds and other conveyances executed prior to January 1, 1991, by any attorney-in-fact in the exercise of a power of attorney are valid...
  • N.C. Gen. Stat. § 45-21.   Validation of appointment of and conveyances to corporations as trustees
    In all deeds of trust made prior to March 15, 1941, wherein property has been conveyed to corporations as trustees to secure indebtedness, the...

Article 2A - Sales under Power of Sale.

  • N.C. Gen. Stat. § 45-21.1.   Definitions; construction
    (a) The following definitions apply in this Article: (1) "Resale" means a resale of real property or a resale of any leasehold interest created...
  • N.C. Gen. Stat. § 45-21.2.   Article not applicable to foreclosure by court action
    This Article does not affect any right to foreclosure by action in court, and is not applicable to any such action. (1949, c. 720,...
  • N.C. Gen. Stat. § 45-21.3.   Repealed by Session Laws 1993, c. 305, s. 2
  • N.C. Gen. Stat. § 45-21.4.   Place of sale of real property
    (a) Every sale of real property shall be held in the county where the property is situated unless the property consists of a single...
  • N.C. Gen. Stat. § 45-21.5 through 45-21.6.   Repealed by Session Laws 1967, c. 562, s. 2
  • N.C. Gen. Stat. § 45-21.7.   Sale of separate tracts in different counties
    (a) When the property to be sold consists of separate tracts of real property situated in different counties, there shall be a separate advertisement,...
  • N.C. Gen. Stat. § 45-21.8.   Sale as a whole or in parts
    (a) When the instrument pursuant to which a sale is to be held contains provisions with respect to whether the property therein described is...
  • N.C. Gen. Stat. § 45-21.9.   Amount to be sold when property sold in parts; sale of remainder if necessary
    (a) When a person exercising a power of sale sells property in parts pursuant to G.S. 45-21.8 he shall sell as many of such...
  • N.C. Gen. Stat. § 45-21.9A.   Simultaneous foreclosure of two or more instruments
    When two or more mortgages or deeds of trust held by the same person are secured in whole or in part by the same...
  • N.C. Gen. Stat. § 45-21.10.   Requirement of cash deposit at sale
    (a) If a mortgage or deed of trust contains provisions with respect to a cash deposit at the sale, the terms of the instrument...
  • N.C. Gen. Stat. § 45-21.11.   Application of statute of limitations to serial notes
    When a series of notes maturing at different times is secured by a mortgage or deed of trust and the exercise of the power...
  • N.C. Gen. Stat. § 45-21.12.   Power of sale barred when foreclosure barred
    (a) Except as provided in subsection (b), no person shall exercise any power of sale contained in any mortgage or deed of trust, or...
  • N.C. Gen. Stat. § 45-21.12A.   Power of sale barred during periods of military service
    (a) Power of Sale Barred. - A mortgagee, trustee, or other creditor shall not exercise a power of sale contained in a mortgage or...
  • N.C. Gen. Stat. § 45-21.13.   Repealed by Session Laws 1967, c. 562, s. 2
  • N.C. Gen. Stat. § 45-21.14.   Clerk's authority to compel report or accounting; contempt proceeding
    Whenever any person fails to file any report or account, as provided by this Article, or files an incorrect or incomplete report or account,...
  • N.C. Gen. Stat. § 45-21.15.   Trustee's fees
    (a) When a sale has been held, the trustee is entitled to such compensation, if any, as is stipulated in the instrument. (b) When...
  • N.C. Gen. Stat. § 45-21.16.   Notice and hearing
    (a) The mortgagee or trustee granted a power of sale under a mortgage or deed of trust who seeks to exercise such power of...
  • N.C. Gen. Stat. § 45-21.16A.   Contents of notice of sale
    (a) Except as provided in subsection (b) of this section, the notice of sale shall include all of the following: (1) Describe the instrument...
  • N.C. Gen. Stat. § 45-21.16B.   Repealed by Session Laws 2013-412, s. 7, effective August 23, 2013
  • N.C. Gen. Stat. § 45-21.16C.   Opportunity for parties to resolve foreclosure of owner-occupied residential property
    (a) At the commencement of the hearing, the clerk shall inquire as to whether the debtor occupies the real property at issue as his...
  • N.C. Gen. Stat. § 45-21.17.   Posting and publishing notice of sale of real property
    In addition to complying with such provisions with respect to posting or publishing notice of sale as are contained in the security instrument, (1)...
  • N.C. Gen. Stat. § 45-21.17A.   Requests for copies of notice
    (a) Any person desiring a copy of any notice of sale may, at any time subsequent to the recordation of the security instrument and...
  • N.C. Gen. Stat. § 45-21.18 through 45-21.19.   Repealed by Session Laws 1967, c. 562, s. 2
  • N.C. Gen. Stat. § 45-21.20.   Satisfaction of debt after publishing or posting notice, but before completion of sale
    A power of sale is terminated if, prior to the time fixed for a sale, or prior to the expiration of the time for...
  • N.C. Gen. Stat. § 45-21.21.   Postponement of sale
    (a) Any person exercising a power of sale may postpone the sale to a day certain not later than 90 days, exclusive of Sunday,...
  • N.C. Gen. Stat. § 45-21.22.   Procedure upon dissolution of order restraining or enjoining sale, or upon debtor's bankruptcy before completion of sale
    (a) When, before the date fixed for a sale, a judge dissolves an order restraining or enjoining the sale, he may, if the required...
  • N.C. Gen. Stat. § 45-21.23.   Time of sale
    A sale shall begin at the time designated in the notice of sale or as soon thereafter as practicable, but not later than one...
  • N.C. Gen. Stat. § 45-21.24.   Continuance of uncompleted sale
    A sale commenced but not completed within the time allowed by G.S. 45-21.23 shall be continued by the person holding the sale to a...
  • N.C. Gen. Stat. § 45-21.25.   Repealed by Session Laws 1967, c. 562, s. 2
  • N.C. Gen. Stat. § 45-21.26.   Preliminary report of sale of real property
    (a) The person exercising a power of sale of real property, shall, within five days after the date of the sale, file a report...
  • N.C. Gen. Stat. § 45-21.27.   Upset bid on real property; compliance bonds
    (a) An upset bid is an advanced, increased, or raised bid whereby any person offers to purchase real property theretofore sold, for an amount...
  • N.C. Gen. Stat. § 45-21.28.   Repealed by Session Laws 1993, c. 305, s. 17
  • N.C. Gen. Stat. § 45-21.29.   Orders for possession
    (a)-(j) Repealed by Session Laws 1993, c. 305, s. 18. (k) Orders for possession of real property sold pursuant to this Article, in favor...
  • N.C. Gen. Stat. § 45-21.29A.   No necessity for confirmation of sale
    No confirmation of sales or resales of real property made pursuant to this Article shall be required. If an upset bid is not filed...
  • N.C. Gen. Stat. § 45-21.30.   Failure of bidder to make cash deposit or to comply with bid; resale
    (a) If the terms of a sale of real property require the highest bidder to make a cash deposit at the sale, and he...
  • N.C. Gen. Stat. § 45-21.31.   Disposition of proceeds of sale; payment of surplus to clerk
    (a) The proceeds of any sale shall be applied by the person making the sale, in the following order, to the payment of -...
  • N.C. Gen. Stat. § 45-21.32.   Special proceeding to determine ownership of surplus
    (a) A special proceeding may be instituted before the clerk of the superior court by any person claiming any money, or part thereof, paid...
  • N.C. Gen. Stat. § 45-21.33.   Final report of sale of real property
    (a) A person who holds a sale of real property pursuant to a power of sale shall file with the clerk of the superior...

Article 2B - Injunctions; Deficiency Judgments.

  • N.C. Gen. Stat. § 45-21.34.   Enjoining mortgage sales on equitable grounds
    Any owner of real estate, or other person, firm or corporation having a legal or equitable interest therein, may apply to a judge of...
  • N.C. Gen. Stat. § 45-21.35.   Ordering resales; receivers for property; tax payments
    The court or judge granting such order or injunction, or before whom the same is returnable, shall have the right before, but not after,...
  • N.C. Gen. Stat. § 45-21.36.   Right of mortgagor to prove in deficiency suits reasonable value of property by way of defense
    When any sale of real estate has been made by a mortgagee, trustee, or other person authorized to make the same, at which the...
  • N.C. Gen. Stat. § 45-21.37.   Certain sections not applicable to tax suits
    Sections 45-21.34 through 45-21.36 do not apply to tax foreclosure suits or tax sales. (1933, c. 275, s. 4; 1949, c. 720, s. 3.)
  • N.C. Gen. Stat. § 45-21.38.   Deficiency judgments abolished where mortgage represents part of purchase price
    In all sales of real property by mortgagees and/or trustees under powers of sale contained in any mortgage or deed of trust executed after...
  • N.C. Gen. Stat. § 45-21.38A.   Deficiency judgments abolished where mortgage secured by primary residence
    (a) As used in this section, the term "nontraditional mortgage loan" means a loan in which all of the following apply: (1) The borrower...
  • N.C. Gen. Stat. § 45-21.38B.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-21.38C.   Severability
    The provisions of this Article shall be severable, and if any phrase, clause, sentence, or provision is declared to be unconstitutional or otherwise invalid...

Article 2C - Validating Sections; Limitation of Time for Attacking Certain Foreclosures.

  • N.C. Gen. Stat. § 45-21.39.   Limitation of time for attacking certain foreclosures on ground trustee was agent, etc., of owner of debt
    (a) No action or proceeding shall be brought or defense or counterclaim pleaded later than one year after March 14, 1941, in which a...
  • N.C. Gen. Stat. § 45-21.40.   Real property; validation of deeds made after expiration of statute of limitations where sales made prior thereto
    In all cases where sales of real property have been made under powers of sale contained in mortgages or deeds of trust and such...
  • N.C. Gen. Stat. § 45-21.41.   Orders signed on days other than first and third Mondays validated; force and effect of deeds
    In all actions for the foreclosure of any mortgage or deed of trust which has heretofore been instituted and prosecuted before the clerk of...
  • N.C. Gen. Stat. § 45-21.42.   Validation of deeds where no order or record of confirmation can be found
    In all cases prior to the first day of March, 1974, where sales of property have been made under the power of sale contained...
  • N.C. Gen. Stat. § 45-21.43.   Validation of certain foreclosure sales
    In all cases where mortgages or deeds of trust on real estate with power of sale have been foreclosed pursuant to said power by...
  • N.C. Gen. Stat. § 45-21.44.   Validation of foreclosure sales when provisions of G.S. 45-21.17(2) not complied with
    In all cases prior to May 1, 1990, where mortgages or deeds of trust on real estate with power of sale have been foreclosed...
  • N.C. Gen. Stat. § 45-21.45.   Validation of foreclosure sales where notice and hearing not provided
    In all cases where mortgages or deeds of trust on real estate with power of sale have been foreclosed pursuant to said power by...
  • N.C. Gen. Stat. § 45-21.46.   Validation of foreclosure sales where posting and publication not complied with
    (a) In all cases of foreclosure of mortgages or deeds of trust secured by real estate pursuant to power of sale which foreclosures were...
  • N.C. Gen. Stat. § 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...
  • N.C. Gen. Stat. § 45-21.48.   Validation of certain foreclosure sales that did not comply with posting requirement
    A sale of real property made on or before July 2, 1985, under a power of sale contained in a mortgage or deed of...
  • N.C. Gen. Stat. § 45-21.49.   Validation of foreclosure sales when provisions of § 45-21.16A(3) not complied with
    (a) Whenever any real property was sold under a power of sale as provided in Article 2A of Chapter 45, and the notice of...

Article 3 - Mortgage Sales.

Article 4 - Satisfaction.

  • N.C. Gen. Stat. § 45-36.2.   Obligation of good faith
    Every action or duty within this Article imposes an obligation of good faith in its performance or enforcement. (1953, c. 848; 2005-123, s. 1.)
  • N.C. Gen. Stat. § 45-36.3.   Notification by mortgagee of satisfaction of provisions of deed of trust or mortgage, or other instrument; civil penalty
    (a) After the satisfaction of the provisions of any deed of trust or mortgage, or other instrument intended to secure with real property the...
  • N.C. Gen. Stat. § 45-36.4.   Definitions
    As used in this Article, the following terms mean: (1) Address for giving a notification. - For the purpose of a particular type of...
  • N.C. Gen. Stat. § 45-36.5.   Notification: manner of giving and effective date
    (a) A person gives a notification by any of the following: (1) Depositing it with the United States Postal Service with first-class postage paid...
  • N.C. Gen. Stat. § 45-36.6.   Document of rescission: effect; liability for wrongful recording
    (a) Definitions. - The following definitions apply in this section: (1) Document of rescission. - A document that rescinds either (i) a release that...
  • N.C. Gen. Stat. § 45-36.7.   Payoff and short-pay statements; request and content
    (a) An entitled person, or an agent authorized by an entitled person to request a payoff or a short-pay statement, may give to the...
  • N.C. Gen. Stat. § 45-36.7A.   Credit suspension directives
    (a) A credit suspension directive may be given to a secured creditor by any of the following: (1) Any borrower. (2) The legal representative...
  • N.C. Gen. Stat. § 45-36.8.   Understated payoff statement or short-pay statement: correction; effect
    (a) If a secured creditor determines that the payoff amount it provided in a payoff statement or the short-pay amount it provided in a...
  • N.C. Gen. Stat. § 45-36.9.   Secured creditor to submit satisfaction or release for recording; liability for failure
    (a) A secured creditor shall submit for recording a satisfaction of a security instrument within 30 days after the creditor receives full payment or...
  • N.C. Gen. Stat. § 45-36.10.   Content and effect of satisfaction
    (a) A document is a satisfaction of a security instrument if it does all of the following: (1) Identifies the type of security instrument,...
  • N.C. Gen. Stat. § 45-36.11.   Satisfaction: form
    (a) Standard Form. - No particular phrasing is required for a satisfaction of a security instrument. The following form, when properly completed, is sufficient...
  • N.C. Gen. Stat. § 45-36.12.   Limitation of secured creditor's liability
    A secured creditor is not liable under this Article if it: (1) Established a reasonable procedure to achieve compliance with its obligations under this...
  • N.C. Gen. Stat. § 45-36.13.   Eligibility to serve as satisfaction agent
    No person other than an attorney licensed to practice law in the State of North Carolina may serve as a satisfaction agent under this...
  • N.C. Gen. Stat. § 45-36.14.   Affidavit of satisfaction: notification to secured creditor
    (a) If a secured creditor has not submitted for recording a satisfaction of a security instrument and the security instrument has not been satisfied...
  • N.C. Gen. Stat. § 45-36.15.   Affidavit of satisfaction: authorization to submit for recording
    (a) Subject to subsections (b) and (c) of this section, a satisfaction agent may sign and submit for recording an affidavit of satisfaction of...
  • N.C. Gen. Stat. § 45-36.16.   Affidavit of satisfaction: content
    An affidavit of satisfaction of a security instrument must comply with all of the following: (1) Identify the type of security instrument, the original...
  • N.C. Gen. Stat. § 45-36.17.   Affidavit of satisfaction: form
    No particular phrasing of an affidavit of satisfaction is required. The following form of affidavit, when properly completed, is sufficient to satisfy the requirements...
  • N.C. Gen. Stat. § 45-36.18.   Affidavit of satisfaction: effect
    (a) Upon recording, an affidavit substantially complying with the requirements of G.S. 45-36.16 constitutes a satisfaction of the security instrument described in the affidavit....
  • N.C. Gen. Stat. § 45-36.19.   Liability of satisfaction agent
    (a) Except as otherwise provided in subsection (b) of this section, a satisfaction agent or any person purporting to be a satisfaction agent that...
  • N.C. Gen. Stat. § 45-36.20.   Trustee's satisfaction of deed of trust: content and effect
    (a) Upon recording, a trustee's satisfaction substantially complying with the requirements of this section constitutes a satisfaction of the deed of trust described in...
  • N.C. Gen. Stat. § 45-36.21.   Trustee's satisfaction of deed of trust: form
    (a) Standard Form. - No particular phrasing is required for a trustee's satisfaction of a deed of trust. The following form, when properly completed,...
  • N.C. Gen. Stat. § 45-36.22.   Partial release: content and effect; form
    (a) A document is a partial release if it does all of the following: (1) Identifies the type of security instrument, the original parties...
  • N.C. Gen. Stat. § 45-36.23.   Obligation release: content and effect
    (a) A document is an obligation release if it does all of the following: (1) Identifies the type of security instrument, the original parties...
  • N.C. Gen. Stat. § 45-36.24.   Expiration of lien of security instrument
    (a) Maturity Date. - For purposes of this section: (1) If a secured obligation is for the payment of money: a. If all remaining...
  • N.C. Gen. Stat. § 45-37.   Satisfaction of record of security instruments
    (a) Subject to the provisions of G.S. 45-36.9(a) and G.S. 45-73 relating to security instruments which secure future advances, any security instrument intended to...
  • N.C. Gen. Stat. § 45-37.1.   Validation of certain entries of cancellation made by beneficiary or assignee instead of trustee
    In all cases where, prior to January 1, 1930, it appears from the margin or face of the record in the office of the...
  • N.C. Gen. Stat. § 45-37.2.   Indexing satisfactions and other documents relating to security instruments
    (a) The register of deeds shall record and index the following instruments in accordance with G.S. 161-14.1: (1) A substitution of trustee. (2) A...
  • N.C. Gen. Stat. § 45-38.   Recording of foreclosure
    In case of foreclosure of any deed of trust, or mortgage, the trustee, mortgagee, or the trustee's or mortgagee's attorney shall record a notice...
  • N.C. Gen. Stat. § 45-39.   Repealed by Session Laws 1949, c. 720, s. 5
  • N.C. Gen. Stat. § 45-40.   Repealed by Session Laws 2005-123, s. 1, effective October 1, 2005
  • N.C. Gen. Stat. § 45-41.   Recorded deed of release of mortgagee's representative
    The personal representative of any mortgagee or trustee in any mortgage or deed of trust which has heretofore or which may hereafter be registered...
  • N.C. Gen. Stat. § 45-42.   Satisfaction of corporate mortgages by corporate officers
    All security instruments executed to a corporation may be satisfied and so marked of record as by law provided for the satisfaction of security...
  • N.C. Gen. Stat. § 45-42.1.   Corporate cancellation of lost mortgages by register of deeds
    Upon affidavit of the secretary and treasurer of a corporation showing that the records of such corporation show that such corporation has fully paid...
  • N.C. Gen. Stat. § 45-42.2.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-42.3.   Automatic release of real property from ancillary security instruments
    (a) The following definitions shall apply in this section: (1) Ancillary security instrument. - An assignment of leases with respect to the real property,...

Article 5 - Miscellaneous Provisions.

  • N.C. Gen. Stat. § 45-43.   Real estate mortgage loans; commissions
    Any individual or corporation authorized by law to do a real estate mortgage loan business may make or negotiate loans of money on notes...
  • N.C. Gen. Stat. § 45-43.1 through 45-43.5.   Repealed by Session Laws 1971, c. 1229, s. 1
  • N.C. Gen. Stat. § 45-44.   Mortgages held by insurance companies, banks, building and loan associations, or other lending institutions
    A mortgage or deed of trust held by an insurance company, bank, building and loan association, or other lending institution shall be deemed, for...
  • N.C. Gen. Stat. § 45-45.   Spouse of mortgagor included among those having right to redeem real property
    Any married person has the right to redeem real property conveyed by his or her spouse's mortgages, deeds of trust and like security instruments...
  • N.C. Gen. Stat. § 45-45.1.   Release of mortgagor by dealings between mortgagee and assuming grantee
    Except where otherwise provided in the mortgage or deed of trust or in the note or other instrument secured thereby, or except where the...
  • N.C. Gen. Stat. § 45-45.2.   Transfer taxes not applicable
    Notwithstanding any other provision of law, no excise tax on instruments conveying an interest in real property, except that levied by Article 8E of...
  • N.C. Gen. Stat. § 45-45.3.   Trustee in a deed of trust
    (a) The following definitions apply in this section: (1) Secured creditor. - The holder, owner, or assignee of the obligation secured by a deed...

Article 6 - Uniform Trust Receipts Act.

  • N.C. Gen. Stat. § 45-46 through 45-66.   Repealed by Session Laws 1965, c. 700, s. 2

Article 7 - Instruments to Secure Future Advances and Future Obligations.

  • N.C. Gen. Stat. § 45-67.   Definitions
    The following definitions apply in this Article: (1) Advance. - A disbursement of funds or other action that increases the outstanding principal balance owing...
  • N.C. Gen. Stat. § 45-68.   Requirements
    A security instrument, otherwise valid, shall secure the following so as to give priority as provided in G.S. 45-70: (1) Recodified as subdivision (1b)....
  • N.C. Gen. Stat. § 45-69.   Fluctuation of obligations within maximum amount
    Unless the security instrument provides to the contrary, if the maximum amount secured by the security instrument has not been advanced or if any...
  • N.C. Gen. Stat. § 45-70.   Priority of security instrument
    (a) Subject to subsections (a1), (c), and (d) of this section, any security instrument that conforms to the requirements of this Article shall, from...
  • N.C. Gen. Stat. § 45-71.   Satisfaction of the security instrument
    Upon payment of all the obligations secured by a security instrument which conforms to the requirements of this Article and upon termination of all...
  • N.C. Gen. Stat. § 45-72.   Termination of future optional advances
    (a) The holder of a security instrument conforming to the provisions of this Article shall, at the request of the maker of the security...
  • N.C. Gen. Stat. § 45-73.   Cancellation of record; presentation of notes described in security instrument sufficient
    The provisions of G.S. 45-37 apply to discharge of record of instruments executed under this Article. (1969, c. 736, s. 1; 2011-246, s. 6.)
  • N.C. Gen. Stat. § 45-74.   Article not exclusive
    The provisions of this Article shall not be deemed exclusive. Nothing in this Article shall invalidate or overrule any rule of validity or priority...
  • N.C. Gen. Stat. § 45-75 through 45-79.   Reserved for future codification purposes

Article 8 - Instruments to Secure Certain Home Loans.

  • N.C. Gen. Stat. § 45-80.   Priority of security instruments securing certain home loans
    (a) Notwithstanding any other provision of law, a deed of trust or mortgage which secures a loan that complies with subsection (b) below shall...

Article 9 - Instruments to Secure Equity Lines of Credit.

  • N.C. Gen. Stat. § 45-81.   Definitions
    The following definitions apply in this Article: (1) Authorized person. - Any borrower; the legal representative of any borrower; the attorney for any borrower;...
  • N.C. Gen. Stat. § 45-82.   Priority of equity line security instrument
    An equity line security instrument shall, from the time and date of its registration, have the same priority to the extent of all advances...
  • N.C. Gen. Stat. § 45-82.1.   Extension of period for advances
    (a) The period for advances agreed to pursuant to G.S. 45-81(3) may be extended by written agreement of the lender and borrower executed and...
  • N.C. Gen. Stat. § 45-82.2.   Request to terminate an equity line of credit
    (a) Upon receipt of a request from an authorized person to terminate an equity line of credit, the lender shall (i) terminate the borrower's...
  • N.C. Gen. Stat. § 45-82.3.   Notice regarding future advances
    (a) A notice regarding future advances may be submitted to a lender by an authorized person, an owner of the property, or a qualified...
  • N.C. Gen. Stat. § 45-82.4.   Prepayment penalty
    Except as provided in G.S. 24-9(c), no prepayment penalty may be charged with respect to an equity line of credit. (2011-312, s. 25.)
  • N.C. Gen. Stat. § 45-83.   Future advances statute shall not apply
    The provisions of Article 7 of this Chapter shall not apply to an equity line of credit or the equity line security instrument securing...
  • N.C. Gen. Stat. § 45-84.   Article not exclusive
    Except as otherwise provided in G.S. 45-83, the provisions of this Article are not exclusive. Nothing in this Article shall invalidate or overrule any...
  • N.C. Gen. Stat. § 45-85.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-86.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-87.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-88.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-89.   Reserved for future codification purposes

Article 10 - Mortgage Debt Collection and Servicing.

  • N.C. Gen. Stat. § 45-90.   Definitions
    As used in this Article, the following definitions apply: (1) Home loan. - A loan secured by real property located in this State used,...
  • N.C. Gen. Stat. § 45-91.   Assessment of fees; processing of payments; publication of statements
    A servicer must comply as to every home loan, regardless of whether the loan is considered in default or the borrower is in bankruptcy...
  • N.C. Gen. Stat. § 45-92.   Obligation of servicer to handle escrow funds
    Any servicer that exercises the authority to collect escrow amounts on a home loan held or to be held for the borrower for insurance,...
  • N.C. Gen. Stat. § 45-93.   Borrower requests for information
    The servicer shall make reasonable attempts to comply with a borrower's request for information about the home loan account and to respond to any...
  • N.C. Gen. Stat. § 45-94.   Remedies
    In addition to any equitable remedies and any other remedies at law, any borrower injured by any violation of this Article may bring an...
  • N.C. Gen. Stat. § 45-95.   Severability
    The provisions of this Article shall be severable, and if any phrase, clause, sentence, or provision is declared to be invalid or is preempted...
  • N.C. Gen. Stat. § 45-96.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-97.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-98.   Reserved for future codification purposes
  • N.C. Gen. Stat. § 45-99.   Reserved for future codification purposes

Article 11 - Emergency Program to Reduce Home Foreclosures.

  • N.C. Gen. Stat. § 45-100.   Title
    This Article shall be known as the Emergency Program to Reduce Home Foreclosures Act. (2008-226, s. 1; 2010-168, s. 9; 2012-79, s. 2.17(g).)
  • N.C. Gen. Stat. § 45-101.   Definitions
    The following definitions apply throughout this Article: (1) Act as a mortgage servicer. - To engage, whether for compensation or gain from another or...
  • N.C. Gen. Stat. § 45-102.   Pre-foreclosure notice for home loans
    At least 45 days prior to the filing of a notice of hearing in a foreclosure proceeding on a primary residence, mortgage servicers of...
  • N.C. Gen. Stat. § 45-103.   Pre-foreclosure information to be filed with the Administrative Office of the Courts for home loans
    (a) Within three business days of mailing the notice required by G.S. 45-102, the mortgage servicer shall file certain information with the Administrative Office...
  • N.C. Gen. Stat. § 45-104.   State Home Foreclosure Prevention Project and Fund
    (a) The purpose of the State Home Foreclosure Prevention Project is to seek solutions to avoid foreclosures for home loans. The Project may include...
  • N.C. Gen. Stat. § 45-105.   Extension of foreclosure process
    The Housing Finance Agency shall review information provided in the database created by G.S. 45-103 to determine which home loans are appropriate for efforts...
  • N.C. Gen. Stat. § 45-106.   Use and privacy of records
    The data provided to the Administrative Office of the Courts pursuant to G.S. 45-103 shall be exclusively for the use and purposes of the...
  • N.C. Gen. Stat. § 45-107.   Foreclosure filing
    (a) For the duration of the program authorized by this Article, foreclosure notices filed on home loans on or after November 1, 2010, shall...

Last modified: March 23, 2014