§ 1-339.1. Definitions. - North Carolina Statutes

Article 29A.

Judicial Sales.

Part 1. General Provisions.

§ 1‑339.1.  Definitions.

(a)        A judicial sale isa sale of property made pursuant to an order of a judge or clerk in an actionor proceeding in the superior or district court, including a sale pursuant toan order made in an action in court to foreclose a mortgage or deed of trust,but is not

(1)        A sale made pursuantto a power of sale

a.         Contained in amortgage, deed of trust, or conditional sale contract, or

b.         Granted by statutewith respect to a mortgage, deed of trust, or conditional sale contract, or

(2)        A resale orderedwith respect to any sale described in subsection (a)(1), where such originalsale was not held under a court order, or

(3)        An execution sale,or

(4)        A sale ordered in acriminal action, or

(5)        A tax foreclosuresale, or

(6)        A sale made pursuantto Article 15 of Chapter 35A of the General Statutes, relating to sales ofestates held by the entireties when one or both spouses are mentallyincompetent, or

(7)        A sale made in thecourse of liquidation of a bank pursuant to G.S. 53‑20, or

(8)        A sale made in thecourse of liquidation of an insurance company pursuant to Article 30 of Chapter58 of the General Statutes, or

(8a)      A lease, sale, orexchange made pursuant to G.S. 35A‑1251(17) or G.S. 35A‑1252(14),unless any order thereunder requires, or

(9)        Any other sale theprocedure for which is specially provided by any statute other than thisArticle.

(b)        As hereafter usedin this Article, "sale" means a judicial sale. (1949, c. 719, s. 1; 1971, c.268, s. 16; 1987, c. 550, s. 12; 1989, c. 473, s. 10; 2003‑221, s. 4.)