(a) When the instrument pursuant to which a sale is to be held contains provisions
with respect to whether 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 instrument contains no provisions with respect to whether the property
therein described is to be sold as a whole or in parts, the person exercising the
power of sale may, in his discretion, subject to the provisions of G.S. 45-21.9, sell the property as a whole or in such parts or parcels thereof as are separately
described in the instrument, or he may offer the property for sale by each method
and sell the property by the method which produces the highest price.
(b1) When real property is 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
deems advisable, the sale of each such part shall thereafter be treated as a separate
sale for the purpose of determining the procedure applicable thereto.
(c) This section does not affect the equitable principle of marshaling assets.
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 or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.