Richmond Mortgage & Loan Corp. v. Wachovia Bank & Trust Co.

Chapter 275, Public Laws of North Carolina, 1933, is entitled “An act to regulate the sale of real property upon the foreclosure of mortgages or deeds of trust.” The Act was ratified on 18 April, 1933, and has been in full force and effect since said date. It applies only to a sale made by a mortgagee or trustee under a power of sale contained in a mortgage, deed of trust, or other instrument, securing the payment of money. It does not apply to a sale made under an order, judgment, or decree in an action to foreclose a mortgage or deed of trust, or similar instrument.

In sections 1 and 2 of…