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Current as of January 01, 2023 | Updated by Findlaw Staff
(a) When a sale has been held, the trustee is entitled to such compensation, if any, as is stipulated in the instrument.
(b) When no sale has actually been held, compensation for a trustee's services is determined as follows:
(1) If no compensation for the trustee's services in holding a sale is provided for in the instrument, the trustee is not entitled to any compensation;
(2) If compensation is specifically provided for the trustee's services when no sale is actually held, the trustee is entitled to such compensation;
(3) If the instrument provides for compensation for the trustee's services in actually holding a sale, but does not provide compensation for the trustee's services when no sale is actually held, the trustee is entitled to compensation as follows: (i) one-fourth of the completed sale compensation before the trustee files the notice of hearing; (ii) one-half after the filing of the notice of hearing; and (iii) three-fourths after the hearing.
(4) Repealed by Laws 1993, c. 305, § 7.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 45. Mortgages and Deeds of Trust § 45-21.15. Trustee's fees - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-45-mortgages-and-deeds-of-trust/nc-gen-st-sect-45-21-15/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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