§ 45-21.15. Trustee's fees. - North Carolina Statutes

§45‑21.15.  Trustee's fees.

(a)        When a sale hasbeen held, the trustee is entitled to such compensation, if any, as isstipulated in the instrument.

(b)        When no sale hasactually been held, compensation for a trustee's services is determined asfollows:

(1)              If nocompensation for the trustee's services in holding a sale is provided for inthe instrument, the trustee is not entitled to any compensation;

(2)              Ifcompensation is specifically provided for the trustee's services when no saleis actually held, the trustee is entitled to such compensation;

(3)              If theinstrument provides for compensation for the trustee's services in actuallyholding a sale, but does not provide compensation for the trustee's serviceswhen no sale is actually held, the trustee is entitled to compensation asfollows:  (i) one‑fourth of the completed sale compensation before thetrustee files the notice of hearing; (ii) one‑half after the filing ofthe notice of hearing; and (iii) three‑fourths after the hearing.

(4)        Repealed by SessionLaws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)