§ 1-339.23. Public sale; when confirmation of sale of personal property necessary; delivery of property; bill of sale. - North Carolina Statutes

§1‑339.23.  Public sale; when confirmation of sale of personal propertynecessary; delivery of property; bill of sale.

(a)        When any personinterested as a creditor, legatee, distributee, or otherwise, in the proceedsof a public sale of personal property, objects at the sale to the completion ofthe sale of any article of property on account of the insufficiency of theamount bid, title to such property shall not pass and possession of theproperty shall not be delivered until the sale of such property is reported andis confirmed by the judge or clerk of court having jurisdiction; but suchobjection to the completion of the sale of any article of property shall notprevent the completion of the sales of articles of property to which noobjection is made where the same have been separately sold. When a judge orclerk having jurisdiction fails or refuses to confirm a sale of property whichhas thus been objected to, the procedure for a new sale of such property,including a new order of sale, shall be the same as if no such attempted salehas been held. This subsection shall not apply to perishable property soldpursuant to G.S. 1‑339.19.

(b)        Except as providedin subsection (a), the person holding a public sale of personal property shalldeliver the property to the purchaser immediately upon compliance by thepurchaser with the terms of the sale.

(c)        The person holdinga public sale may execute and deliver a bill of sale or other muniment of titlefor any personal property sold, and, upon application of the purchaser, shalldo so when required by the judge or clerk of court having jurisdiction. (1949,c. 719, s. 1; 1971, c. 268, s. 18.)