Satisfaction of debt after publishing or posting notice, but before completion of sale
Applied in 3 court decisions — leading case Turner v. Blackburn (1975)
Most recently applied in 235 N.C. App. 77 - Lynn v. Federal National Mortgage Ass'n (July 2014)
1949, c. 720, s. 1; 1967, c. 562, s. 2.
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
A power of sale is terminated if, prior to the time fixed for a sale, or prior to the expiration of the time for submitting any upset bid after a sale or resale has been held, payment is made or tendered of -
(1) The obligation secured by the mortgage or deed of trust, and
(2) The expenses incurred with respect to the sale or proposed sale, which in the case of a deed of trust also include compensation for the trustee's services under the conditions set forth in G.S. 45-21.15.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.