North Carolina Statutes

Chapter 45 Mortgages and Deeds of Trust

Article 1 - Chattel Securities.

Article 2 - Right to Foreclose or Sell under Power.

Article 2A - Sales under Power of Sale.

Article 2B - Injunctions; Deficiency Judgments.

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

Article 3 - Mortgage Sales.

Article 4 - Satisfaction.

Article 5 - Miscellaneous Provisions.

Article 6 - Uniform Trust Receipts Act.

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

  • § 45-67   Definition
    As used in this Article, "security instrument" means a mortgage, deed of trust, or other instrument relating to real property securing an obligation or obligations...
  • § 45-68   Requirements
    A security instrument, otherwise valid, shall secure future obligations which may from time to time be incurred thereunder so as to give priority thereto as...
  • § 45-69   Fluctuation of obligations within maximum amount
    Unless the security instrument provides to the contrary, if the maximum amount has not been advanced or if any obligation secured thereby is paid or...
  • § 45-70   Priority of security instrument
    (a) Any security instrument which conforms to the requirements of this Article shall, from the time and date of registration thereof, have the same priority...
  • § 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 obligation...
  • § 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 instrument...
  • § 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 except that in cases of cancellation by exhibition or...
  • § 45-74   Article not exclusive
    The provisions of this Article shall not be deemed exclusive, and no security instrument securing future advances or future obligations which is otherwise valid shall...
  • § 45-75 through 45-79   Reserved for future codification purposes

Article 8 - Instruments to Secure Certain Home Loans.

Article 9 - Instruments to Secure Equity Lines of Credit.

  • § 45-81   Definition
    (a) The term "equity line of credit" means an agreement in writing between a lender and a borrower for an extension of credit pursuant to...
  • § 45-82   Priority of security instrument
    A mortgage or deed of trust which shows on its face that it secures an equity line of credit governed by the provisions of this...
  • § 45-82.1   Extension of period for advances
    (a) The period for advances agreed to pursuant to G.S. 45‑81(a)(1) may be extended by written agreement of the lender and borrower executed prior to...
  • § 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 instrument securing it, if the instrument...
  • § 45-84   Article not exclusive
    Except as otherwise provided in G.S. 45‑83, the provisions of this Article are not exclusive, and no mortgage or deed of trust which secures a...

Article 10 - Mortgage Debt Collection and Servicing.