North Dakota Code 35-22-21 – Deed – Issuance – Effect
Current as of: 2023 | Check for updates
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If the mortgaged premises are not redeemed, it is the duty of the officer who sold the same, or that person‘s successor in office, or some other person appointed by the district court for that purpose, to complete the sale by executing a deed of the premises sold to the original purchaser, the original purchaser’s heirs or assigns, or to any person who may have acquired the title and interest of the purchaser by redemption or otherwise. The deed has the same force and effect as if it had been executed pursuant to a sale under a foreclosure of the mortgage by an action in which all persons having an interest in or lien upon the property subsequent to the mortgage were made parties and duly served with process.
Terms Used In North Dakota Code 35-22-21
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49