law that makes it illegal to have your property foreclosed

What is a tax foreclosure?įoreclosure of a tax lien is a lawful means of collecting unpaid property taxes by a local government entity. See the Lawsuits Help Topic for more information on civil cases.

A judge in a foreclosure by civil action has broader jurisdiction and authority than the clerk does in a power of sale foreclosure. The procedure for a sale in a foreclosure by civil action is contained in Article 29A in Chapter 1 of the North Carolina General Statutes.

A foreclosure by civil action is filed in either district or superior court depending on the value of the real property subject to foreclosure. What is a foreclosure by civil action?Ī foreclosure by civil action differs from a power of sale foreclosure. A clerk of superior court may only hear and decide certain factual and legal issues in a power of sale foreclosure proceeding. A clerk of superior court in the county where the real property is located has authority to authorize or deny a power of sale foreclosure. A power of sale foreclosure may not proceed unless authorized by a court after a hearing. The procedure for power of sale foreclosure is contained in Article 2A in Chapter 45 of the North Carolina General Statutes. What is a power of sale foreclosure?Ī power of sale foreclosure is a contractual right under the terms of a deed of trust which gives the trustee the power to sell the real property on behalf of the lender if the borrower defaults.

As a result of the foreclosure, the property owner loses all rights in the property. A foreclosure is a method of enforcing payment of a debt secured by a mortgage, deed of trust, or lien on real property by selling the real property and applying the proceeds of the sale to satisfy the debt.

Law that makes it illegal to have your property foreclosed