North Dakota Code > Chapter 32-19.2 – Trustees for Commercial Buildings During Foreclosures
Current as of: 2023 | Check for updates
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| § 32-19.2-01 | Appointment of trustee |
| § 32-19.2-02 | Authority and duties of trustee |
| § 32-19.2-03 | Termination and accounting |
| § 32-19.2-04 | Compensation of trustee and distribution of funds |
Terms Used In North Dakota Code > Chapter 32-19.2 - Trustees for Commercial Buildings During Foreclosures
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Trustee: A person or institution holding and administering property in trust.