(a) When, before the date fixed for a sale, a judge dissolves an order restraining or enjoining the sale, he may, if the required notice of sale has been given, provide by order that the sale shall be held without additional notice at the time and place originally fixed therefor, or he may, in his discretion, make an order with respect thereto as provided in subsection (b).
(b) When, after the date fixed for a sale, a judge dissolves an order restraining or enjoining the sale, he shall by order fix the time and place for the sale to be held upon notice to be given in such manner and for such length of time as he deems advisable.
(c) When, after the entry of any authorization or order by the clerk of superior court pursuant to G.S. 45-21.16 and before the expiration of the 10-day upset bid period, the foreclosure sale is stayed pursuant to 11 U.S.C. § 105 or 362, and thereafter the stay is lifted, terminated, or dissolved, the trustee or mortgagee shall not be required to comply with the provisions of G.S. 45-21.16, but shall advertise and hold the sale in accordance with the provisions of G.S. 45-21.16A, 45-21.17, and 45-21.17A.
(d) In the event that completion of the foreclosure sale is stayed pursuant to 11 U.S.C. § 105 or 362, before the expiration of the 10-day upset bid period:
(1) The clerk of superior court who received a deposit from an upset bidder shall release any deposits held on behalf of the upset bidder to the upset bidder upon receipt of a certified copy of an order or notice from the bankruptcy court indicating that the debtor has filed a bankruptcy petition; or
(2) The trustee or mortgagee who received a cash deposit from the high bidder at the foreclosure sale, upon notification of the bankruptcy stay, shall release any deposits held on behalf of the high bidder to the high bidder. (1949, c. 720, s. 1; 1993, c. 305, s. 13; 2011-204, s. 1.)
Notes of Decisions
Cited in
7
cases (
1 in the last 5 years), 1996–2022 · leading case:
In Re Barham, 193 B.R. 229 (Bankr. E.D.N.C. 1996).
In Re Barham, 193 B.R. 229 (Bankr. E.D.N.C. 1996).
· cites it 4× “Additionally, in 1993, North Carolina General Statute § 45-21.22 was amended to include a provision that if a bankruptcy petition is filed (1) after the notice and hearing provided for in § 45-21.”
Beneficial Mortg. Co. of North Carolina, Inc. v. Barrington & Jones Law Firm, P.A., 595 S.E.2d 705 (N.C. Ct. App. 2004).
· cites it 25× “*47 In 1993, North Carolina law governing the sale of real property held under a power of sale, specifically N.C. Gen. Stat. § 45-21.22 (2003), was amended to include the following provision: When, after the entry of any authorization or order by the clerk of superior court…”
In Re Hackley, 713 S.E.2d 119 (N.C. Ct. App. 2011).
· cites it 2× “Respondent further argues that because the sale was in violation of the bankruptcy stay, the trustee's deed was invalid, as the secured creditor proceeded with a foreclosure sale in violation of N.C. Gen.Stat. § 45-21.22, and therefore, his appeal is not moot.”
In re the Foreclosure of the Deed of Trust of Hackley, 713 S.E.2d 119 (N.C. Ct. App. 2011).
· cites it 2× “Respondent further argues that because the sale was in violation of the bankruptcy stay, the trustee’s deed was invalid, as the secured creditor proceeded with a foreclosure sale in violation of N.C. Gen. Stat. § 45-21.22 , and therefore, his appeal is not moot.”
Beneficial Mortg. Co. of North Carolina Inc. v. Barrington, 595 S.E.2d 705 (N.C. Ct. App. 2004).
· cites it 25× “In 1993, North Carolina law governing the sale of real property held under a power of sale, specifically N.C. Gen.Stat. § 45-21.22 (2003), was amended to include the following provision: When, after the entry of any authorization or order by the clerk of superior court pursuant…”
In Re Lordship Dev., LLC, 403 B.R. 772 (Bankr. E.D.N.C. 2008).
· cites it 3× “N.C. Gen.Stat. § 45-21.22(c). This provision “provides extra protection to a mortgagor against a power of sale foreclosure.”
Peterson v. Wells Fargo Bank, N.A. (D. Conn. 2022).
· cites it 3× “N.C. Gen. Stat. § 45-21.22 (c). Courts construing the plain text of the statute hold that a lender may proceed with a previously authorized foreclosure sale upon the lifting of a bankruptcy stay.”
— N.C. Gen. Stat. § 45-21.22(c) — 3 cases
In Re Lordship Dev., LLC, 403 B.R. 772 (Bankr. E.D.N.C. 2008).
“N.C. Gen.Stat. § 45-21.22(c). This provision “provides extra protection to a mortgagor against a power of sale foreclosure.”
Beneficial Mortg. Co. of North Carolina Inc. v. Barrington, 595 S.E.2d 705 (N.C. Ct. App. 2004).
“In 1993, North Carolina law governing the sale of real property held under a power of sale, specifically N.C. Gen.Stat. § 45-21.22 (2003), was amended to include the following provision: When, after the entry of any authorization or order by the clerk of superior court pursuant…”
— N.C. Gen. Stat. § 45-21.22(e) — 1 case
In Re Barham, 193 B.R. 229 (Bankr. E.D.N.C. 1996).
“Additionally, in 1993, North Carolina General Statute § 45-21.22 was amended to include a provision that if a bankruptcy petition is filed (1) after the notice and hearing provided for in § 45-21.”
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