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Real Property – Mortgages — Foreclosure — ‘Holder’ – UCC

Real Property – Mortgages — Foreclosure — ‘Holder’ – UCC

In re Foreclosure of Deed of Trust from Perry (Lawyers Weekly No. 13-16-0278, 10 pp.) (Douglas McCullough, J.) Appealed from Durham County Superior Court (Lindsey R. Davis Jr., J.) N.C. App. Unpub.

Holding: Where petitioner maintained possession of respondent’s original promissory note , and where the note was endorsed from the original lender to the order of petitioner, petitioner was the holder of the promissory note and entitled to enforce the instrument and seek foreclosure pursuant to G.S. § 45-21.16.

We affirm the superior court’s denial of respondent’s motion for a new trial.

Respondent cites to Connecticut case law to argue that there is a distinction between rights of a mere holder of a note and an owner of a note. We find no such distinction in G.S. § 45-21.16, however. Based on the language of § 45-21.16 and the UCC definitions that this court has determined applicable to the statute, we determine petitioner is a holder entitled to seek foreclosure.


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