§ 45-21.39. Limitation of time for attacking certain foreclosures on ground trustee was agent, etc., of owner of debt. - North Carolina Statutes

Article2C.

Validating Sections;Limitation of Time for Attacking Certain Foreclosures.

§ 45‑21.39.  Limitationof time for attacking certain foreclosures on ground trustee was agent, etc.,of owner of debt.

(a)        No action orproceeding shall be brought or defense or counterclaim pleaded later than oneyear after March 14, 1941, in which a foreclosure sale which occurred prior toJanuary 1, 1941, under a deed of trust conveying real estate as security for adebt is attacked or otherwise questioned upon the ground that the trustee wasan officer, director, attorney, agent or employee of the owner of the whole orany part of the debt secured thereby, or upon the ground that the trustee andthe owner of the debt or any part thereof have common officers, directors,attorneys, agents or employees.

(b)        This section shallnot be construed to give or create any cause of action where none existedbefore March 14, 1941, nor shall the limitation provided in subsection (a)hereof have the effect of barring any cause of action based upon grounds otherthan those mentioned in said subsection, unless the grounds set out insubsection (a) are an essential part thereof.

(c)        This section shallnot be construed to enlarge the time in which to bring any action or proceedingor to plead any defense or counterclaim; and the limitation hereby created isin addition to all other limitations now existing. (1941, c. 202; 1949, c. 720,s. 4.)