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NC General Statutes

N.C. Gen. Stat. § 1-505 (2026)

Sale of property in hands of receiver

✓ current as of July 2026
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In a case pending in the Superior Court Division in which a receiver has been appointed, the resident superior court judge or a superior court judge regularly holding the courts of the district shall have power and authority to order a sale of any property, real or personal, in the hands of a receiver duly and regularly appointed. In a case pending in the District Court Division in which a receiver has been appointed, the chief district judge or a district judge designated by the chief district judge to hear motions and enter interlocutory orders shall have the power and authority to order a sale of any property, real or personal, in the hands of a duly appointed receiver. Sales of property authorized by this section shall be upon such terms as appear to be to the best interests of the creditors affected by the receivership. The procedure for such sales shall be as provided in Article 29A of Chapter 1 of the General Statutes. (1931, c. 123, s. 1; 1949, c. 719, s. 2; 1955, c. 399, s. 1; 1971, c. 268, s. 32.)

 

Notes of Decisions
Cited in 4 cases, 1959–2014 · leading case: Lowder v. All Star Mills, Inc., 300 S.E.2d 230 (N.C. Ct. App. 1983).
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Lowder v. All Star Mills, Inc., 300 S.E.2d 230 (N.C. Ct. App. 1983). “A superior court judge has the power, pursuant to G.S. 1-505, to order the sale of real property held by a receiver.”
Joyce Farms, LLC v. Van Vooren Holdings, Inc., 756 S.E.2d 355 (N.C. Ct. App. 2014). · cites it 2× “See N.C. Gen. Stat. § 1-505 (2013) (“Sales of property [by receivers] shall be upon such terms as appear to be to the best interests of the creditors affected by the receivership.”
Lambeth v. Lambeth, 106 S.E.2d 491 (N.C. 1959). “1-505 (1957 Cumulative Supplement) provides: “The resident judge or the judge assigned to hold any of the courts in any judicial district of North Carolina shall have power and authority to order a sale of any property, real or personal, in the hands of a receiver duly and…”
Joyce Farms, LLC v. Van Vooren Holdings, Inc. (N.C. Ct. App. 2014). · cites it 2× “See N.C. Gen. Stat. § 1-505 (2013) (“Sales of property [by receivers] shall be upon such terms as appear to be to the best interests of the creditors affected by the receivership.”
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