North Carolina General Statutes 1-339.36. Private sale; upset bid; subsequent procedure; defaulting bidder
Terms Used In North Carolina General Statutes 1-339.36
- Personal property: All property that is not real property.
- personal property: shall include moneys, goods, chattels, choses in action and evidences of debt, including all things capable of ownership, not descendable to heirs at law. See North Carolina General Statutes 12-3
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- sale: means a judicial sale. See North Carolina General Statutes 1-339.1
(a) Every private sale of real or personal property, except a sale of personal property as provided by N.C. Gen. Stat. § 1-339.34, is subject to an upset bid on the same conditions and in the same manner as is provided by N.C. Gen. Stat. § 1-339.25
(b) When an upset bid is made for property sold at private sale, subsequent procedure with respect to the upset bid is the same as for upset bids submitted in connection with real property sold at public sale, except that the notice of any resale of personal property held pursuant to an order granted under N.C. Gen. Stat. § 1-339.27A need not be published in a newspaper but shall be posted as provided by N.C. Gen. Stat. § 1-339.17
(c) Subsections (e) and (f) of N.C. Gen. Stat. § 1-339.30 apply to a defaulting bidder in a private sale. (1949, c. 719, s. 1; 2001-271, s. 9; 2021-91, s. 2(a).)