§ 58-74-10. Cancellation of mortgage in such proceedings. - North Carolina Statutes

§58‑74‑10.  Cancellation of mortgage in such proceedings.

Any mortgage given by anyperson in lieu of bond as administrator, executor, guardian, collector,receiver or as an officer required to give an official bond, or as agent orsurety of such person or officer, or in lieu of bond or undertaking orrecognizance for his appearance at any court in any criminal proceeding, or forthe security of any cost or fine in a criminal action which has beenregistered, when such party as administrator, executor, guardian, collector, orreceiver has filed his final account and when the time required by statute forthe bond given by any administrator, executor, guardian, collector, or receiverto remain in force for the purpose of action thereon has expired, or when theofficer required to give an official bond has fully complied with theconditions of such bond and the time within which suit is allowed by law to bebrought thereon has expired, or when the person giving such mortgage in lieu ofbond has made his appearance at the court to which he was bound and did notdepart the court without leave, or paid the cost or fine required, may becanceled or discharged by the clerk of the superior court of the county wheresuch action was pending or where the mortgage in lieu of bond is recorded byentry of "satisfaction" upon the margin of the record where suchmortgage is recorded in the presence of the register of deeds, or his deputy,who shall subscribe his name as a witness thereto, and such cancellation shallhave the effect to discharge and release all the right, title and interest ofthe State of North Carolina in and to the property described in such mortgage. (1905,c. 106; Rev., s. 267; C.S., s. 348; 1921, c. 29, ss. 1, 2; 1925, c. 252, s. 1.)