North Carolina General Statutes 43-48. Foreclosure of tax lien
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The lien for ad valorem taxes may be foreclosed and the property sold pursuant to N.C. Gen. Stat. § 105-375 A note of the sale under this section shall be duly registered, and a certificate shall be entered and an owner’s certificate issued in favor of the purchaser in whom title shall be thereby vested as registered owner, in accordance with the provisions of this Chapter. Nothing in this section shall be so construed as to affect or divert the title of a tenant in reversion or remainder to any real estate which has been returned delinquent and sold on account of the default of the tenant for life in paying the taxes or assessments thereon. (1913, c. 90, s. 23; C.S., s. 2421; 1999-59, s. 9.)
Terms Used In North Carolina General Statutes 43-48
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.