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North Carolina General Statutes Chapter 45. Mortgages and Deeds of Trust § 45-67. Definitions

Current as of January 01, 2023 | Updated by Findlaw Staff

The following definitions apply in this Article:

(1) Advance.--A disbursement of funds or other action that increases the outstanding principal balance owing on an obligation for the payment of money.

(2) Security instrument.--A mortgage, deed of trust, or other instrument relating to real property securing an obligation or obligations to a person, firm, or corporation specifically named in such instrument for the payment of money.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 45. Mortgages and Deeds of Trust § 45-67. Definitions - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-45-mortgages-and-deeds-of-trust/nc-gen-st-sect-45-67/

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