§ 45-21.40. Real property; validation of deeds made after expiration of statute of limitations where sales made prior thereto. - North Carolina Statutes

§45‑21.40.  Real property; validation of deeds made after expiration ofstatute of limitations where sales made prior thereto.

In all cases where sales ofreal property have been made under powers of sale contained in mortgages ordeeds of trust and such sales have been made within the times which would havebeen allowed by the statute of limitations for the commencement of actions toforeclose such mortgages or deeds of trust, and the execution and delivery ofdeeds in consummation of such sales have been delayed until after theexpiration of the period which would have been allowed by the statute oflimitations for the commencement of actions to foreclose such mortgages ordeeds of trust as a result of the filing of raised or increased bids, suchdeeds in the exercise of the power of sale are hereby validated and aredeclared to have the same effect as if they had been executed and deliveredwithin the period allowed by the statute of limitations for the commencement ofactions to foreclose such mortgages or deeds of trust. (1943,c. 16, s. 2; 1949, c. 720, s. 4.)