Bill Summary for S 54 (2013-2014)
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Summary date:
Feb 5 2013
Bill Information:
View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT REQUIRING THAT IN CASE OF FORECLOSURE OF A DEED OF TRUST OR MORTGAGE THE COMMISSIONER OR TRUSTEE AUTHORIZED TO SELL THE PROPERTY SHALL RECORD A NOTICE OF FORECLOSURE IN THE OFFICE OF THE REGISTER OF DEEDS WITHIN SIXTY DAYS AFTER FILING THE FINAL REPORT ON THE SALE OF THE PROPERTY.Intro. by Graham.
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Bill summary
Enacts new subsection (c) to GS 1-339.31 (concerning public sales) to require the commissioner or trustee in the case of foreclosure of any deed of trust or mortgage to, within 60 days after filing the required report, record in the applicable register of deeds office a notice of foreclosure. Makes a corresponding change to GS 1-339.40 (concerning private sales). Amends GS 45-38 to clarify that a trustee or mortgagee in the case of a foreclosure of a deed of trust or mortgage (or attorney) must, within 60 days after filing the required final report of a sale of real property, record notice of foreclosure as indicated. Applies to any foreclosure of a deed of trust or mortgage occurring on or after October 1, 2013.