It shall not be necessary in order to effect a valid assignment of a note and deed of trust, mortgage, or other agreement pledging real property or an interest in real property as security for an obligation, to record a written assignment in the office of the register of deeds in the county in which the real property is located. A transfer of the promissory note or other instrument secured by the deed of trust, mortgage, or other security interest that constitutes an effective assignment under the law of this State shall be an effective assignment of the deed of trust, mortgage, or other security instrument. The assignee of the note shall have the right to enforce all obligations contained in the promissory note or other agreement, and all the rights of the assignor in the deed of trust, mortgage, or other security instrument, including the right to substitute the trustee named in any deed of trust, and to exercise any power of sale contained in the instrument without restriction. The provisions of this section do not preclude the recordation of a written assignment of a deed of trust, mortgage, or other security instrument, with or without the promissory note or other instrument that it secures, provided that the assignment complies with applicable law. (1993, c. 288, s. 4.)
Notes of Decisions
Greene v. Tr. Servs. Of Carolina, LLC, 781 S.E.2d 664 (N.C. Ct. App. 2016).
· cites it 2× “This theory is foreclosed by N.C. Gen.Stat. § 47-17.2 (2013) which specifies that: A transfer of the promissory note or other instrument secured by the deed of trust, mortgage, or other security interest that constitutes an effective assignment under the law of this State shall…”
Nationstar Mortg., LLC v. Dean, 820 S.E.2d 854 (N.C. Ct. App. 2018).
· cites it 2× “The Deans assert no evidence to either refute or create a genuine issue of material fact regarding Nationstar's status as the holder of the original First South note.”
Guilford Cnty. Ex Rel. Thigpen v. Lender Processing Servs., Inc., 2013 NCBC 30 (N.C. Bus. Ct. 2013).
· cites it 6× “27 G.S. 47-17.2 provides: It shall not be necessary in order to effect a valid assignment of a note and deed of trust, mortgage, or other agreement pledging real property or an interest in real property as security for an obligation, to record a written assignment in the office…”
Matter of Rankin, 799 S.E.2d 467 (N.C. Ct. App. 2017).
· cites it 2× “N.C. Gen. Stat. § 47-17.2 (2013). We have reviewed the Owner's contentions on appeal that Bank of America, and not the Trustee, was the holder of the Note.”
In re: Kenley (N.C. Ct. App. 2016).
“§ 47-17.2 (2013) which specifies that: A transfer of the promissory note or other instrument secured by the deed of trust, mortgage, or other security interest that constitutes an effective assignment under the law of this State shall be an effective assignment of the deed of…”
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