North Carolina General Statutes 45-21.15. Trustee’s fees
(a) When a sale has been held, the trustee is entitled to such compensation, if any, as is stipulated in the instrument.
(b) When no sale has actually been held, compensation for a trustee’s services is determined as follows:
(1) If no compensation for the trustee’s services in holding a sale is provided for in the instrument, the trustee is not entitled to any compensation;
Terms Used In North Carolina General Statutes 45-21.15
- Trustee: A person or institution holding and administering property in trust.
(2) If compensation is specifically provided for the trustee’s services when no sale is actually held, the trustee is entitled to such compensation;
(3) If the instrument provides for compensation for the trustee’s services in actually holding a sale, but does not provide compensation for the trustee’s services when no sale is actually held, the trustee is entitled to compensation as follows: (i) one-fourth of the completed sale compensation before the trustee files the notice of hearing; (ii) one-half after the filing of the notice of hearing; and (iii) three-fourths after the hearing.
(4) Repealed by Session Laws 1993, c. 305, s. 7. (1949, c. 720, s. 1; 1993, c. 305, s. 7.)