§ 45-21.16A. Contents of notice of sale. - North Carolina Statutes

§ 45‑21.16A.  Contentsof notice of sale.

(a)        Except as providedin subsection (b) of this section, the notice of sale shall include all of thefollowing:

(1)        Describe theinstrument pursuant to which the sale is held, by identifying the originalmortgagors and recording data. If the record owner is different from theoriginal mortgagors, the notice shall also list the record owner of theproperty, as reflected on the records of the register of deeds not more than 10days prior to posting the notice. The notice may also reflect the owner notreflected on the records if known.

(2)        Designate the date,hour and place of sale consistent with the provisions of the instrument andthis Article.

(3)        Describe the realproperty to be sold in a manner that is reasonably calculated to inform thepublic as to what is being sold. The description may be in general terms andmay incorporate by reference the description used in the instrument containingthe power of sale. Any property described in the instrument containing thepower of sale which is not being offered for sale should also be described in amanner to enable prospective purchasers to determine what is and what is notbeing offered for sale.

(4)        Repealed by SessionLaws 1967, c. 562, s. 2.

(5)        State the terms of thesale provided for by the instrument pursuant to which the sale is held,including the amount of the cash deposit, if any, to be made by the highestbidder at the sale.

(6)        Include any otherprovisions required by the instrument to be included.

(7)        State that theproperty will be sold subject to taxes and special assessments if it is to beso sold.

(8)        State whether theproperty is being sold subject to or together with any subordinate rights orinterests provided those rights and interests are sufficiently identified.

(b)        In addition to therequirements contained in subsection (a) of this section, the notice of sale ofresidential real property with less than 15 rental units shall also state allof the following:

(1)        That an order forpossession of the property may be issued pursuant to G.S. 45‑21.29 infavor of the purchaser and against the party or parties in possession by theclerk of superior court of the county in which the property is sold.

(2)        Any person whooccupies the property pursuant to a rental agreement entered into or renewed onor after October 1, 2007, may, after receiving the notice of sale, terminatethe rental agreement upon 10 days' written notice to the landlord. The noticeshall also state that upon termination of a rental agreement, the tenant isliable for rent due under the rental agreement prorated to the effective dateof the termination. (1949, c. 720, s. 1; 1951, c. 252, s. 1; 1967, c. 562, s. 2; 1975, c.492, s. 1; 1987, c. 493; 1993, c. 305, s. 9; 2007‑353, s. 1.)