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Home / Courts / N.C. Court of Appeals / Real Property  –  Mortgages – Equitable Subrogation – First Impression – Laches (access required)

Real Property  –  Mortgages – Equitable Subrogation – First Impression – Laches (access required)

  North Carolina courts have previously allowed a lender to step into the shoes of a prior lienholder when the lender’s funds were advanced to pay off the borrower’s debt. As a matter of first impression, the court expands such equitable subrogation from refinancing situations to also include purchase-money loans, i.e., a lender who lends money ...

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