§ 45-21.8. Sale as a whole or in parts. - North Carolina Statutes

§45‑21.8.  Sale as a whole or in parts.

(a)        When the instrumentpursuant to which a sale is to be held contains provisions with respect towhether the property therein described is to be sold as a whole or in parts,the terms of the instrument shall be complied with.

(b)        When the instrumentcontains no provisions with respect to whether the property therein describedis to be sold as a whole or in parts, the person exercising the power of salemay, in his discretion, subject to the provisions of G.S. 45‑21.9, sellthe property as a whole or in such parts or parcels thereof as are separatelydescribed in the instrument, or he may offer the property for sale by eachmethod and sell the property by the method which produces the highest price.

(b1)      When real propertyis sold in parts, the sale of any such part is subject to a separate upset bid;and, to the extent the clerk of superior court having jurisdiction deemsadvisable, the sale of each such part shall thereafter be treated as a separatesale for the purpose of determining the procedure applicable thereto.

(c)        This section doesnot affect the equitable principle of marshaling assets. (1949,c. 720, s. 1; 1993, c. 305, s. 4.)