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  • Summary date: Mar 30 2023 - View Summary

    Amends GS 45-21.4(d) and (e), which set the place of sale of property subject to a mortgage or deed with a power of sale where the instrument does not designate the place of sale. Allows the clerk of superior court of the county in which the land is situated to designate a public location within the county where the land is situated for the sale, in lieu of holding the sale at the courthouse door. Makes conforming changes for sales of tracts situated in two or more counties. 

    Amends GS 45-21.23 to allow a sale to begin within three hours (was, one hour) after the time noticed, unless it is delayed by other sales held at the same place, upon which the sale can occur later on the same day, as reasonably determined by the person exercising the power of sale (previously did not give guidance as to timing due to a delay because of other sales). 

    Enacts GS 45-21.25A, allowing persons exercising the power of sale of real property or their agent to accept remote bids so long as all bids are clearly announced to all participating bidders, both physically present and remote. Requires the person exercising the power of sale or their agent to collect funds required to be paid by the winning bidder pursuant to state law prior to accepting the remote bid. Bars making mortgager responsible for costs of remote bidding. 

    Applies to notices of foreclosure of sale with the clerk of superior court on or after October 1, 2023.