Wachovia Bank & Trust Co. v. Hudson

Is the receiver’s deed, duly executed as to form, sufficient to convey title to the lands covered by the deed of trust? An affirmative answer to this question will uphold the judgment, while a negative one will reverse it.

It was held in Strauss v. Building & Loan Asso., 117 N. C., 308, 23 S. E., 450 (decided in 1895), on rehearing, 118 N. C., 556, 24 S. E., 116 (decided in 1896), that a receiver of an insolvent building and loan association, in the absence of an order of court, was not authorized to foreclose a mortgage made to the corporation in which the corporation alone was empowered to…