NC General Statutes

N.C. Gen. Stat. § 45-82 (2026)

Priority of equity line security instrument

✓ current as of July 2026

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An equity line security instrument shall, from the time and date of its registration, have the same priority to the extent of all advances secured by it as if the advances had been made at the time of the registration of the equity line security instrument, notwithstanding the fact that from time to time during the term of the equity line of credit no balance is outstanding. Interest that accrues on the equity line of credit and all payments made, sums advanced, and expenses incurred by the lender (i) for insurance, taxes, and assessments, (ii) to protect the lender's interest under the equity line security instrument, or (iii) to preserve and protect the value or condition of the property encumbered by the equity line security instrument shall be secured by the equity line security instrument and shall have the same priority as if they had been accrued, paid, advanced, and incurred at the time the equity line security instrument was registered. The accrued interest, payments, advances, and expenses shall not be considered in computing the principal amount that is secured by the equity line security instrument at any one time. (1985, c. 207, s. 2; 2011-312, s. 21.)

Notes of Decisions

Cited in 3 cases, 1994–2016 · leading case: Wells Fargo Bank, N.A. v. Am. Nat'l Bank & Trust Co., 791 S.E.2d 906 (N.C. Ct. App. 2016).

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Wells Fargo Bank, N.A. v. Am. Nat'l Bank & Trust Co., 791 S.E.2d 906 (N.C. Ct. App. 2016). · cites it 2× “679), amending N.C. Gen. Stat. §§ 45-82 , 45-82.2. The reference to "equity lien lines" in the title of the bill might be a reference to these provisions, not to the changes in the rescission statute.”

Den-Mark Constr., Inc. v. Wachovia Bank Nat'l Ass'n (In Re Den-Mark Constr., Inc.), 398 B.R. 842 (Bankr. E.D.N.C. 2008). · cites it 6× “Wachovia contends that N.C.G.S. § 45-82 (2008) 2 establishes its first priority lien based on the equity line of credit it provided to Denmark.”

Raintree Realty & Constr., Inc. v. Kasey, 447 S.E.2d 823 (N.C. Ct. App. 1994). · cites it 2× “G.S. § 45-82 (1991) (emphasis added). The statute therefore unambiguously directs that subsequent advancements, made pursuant to an original agreement establishing a line of credit, must be treated as if made and identified on the date of execution of that original agreement.”

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