North Dakota Code 15-03-12 – Foreclosure of mortgages
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Mortgages acquired by the state under the provisions of this chapter may be foreclosed either by action or advertisement in the manner provided by the laws of this state. An action to foreclose a mortgage must be brought and prosecuted in the name of the state.
Terms Used In North Dakota Code 15-03-12
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49