NORTH CAROLINA GENERAL ASSEMBLY

1961 SESSION

 

 

CHAPTER 81

SENATE BILL 35

 

 

AN ACT TO AMEND G.S. 1‑315, RELATING TO PROPERTY LIABLE TO SALE UNDER EXECUTION SO AS TO ENLARGE THE KINDS OF PROPERTY SUBJECT TO SUCH SALE.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 1‑315 is hereby amended to read as follows:

"(a)       The following property of the judgment debtor, not exempted from sale under the Constitution and laws of this State, may be levied on and sold under execution:

(1)        Goods, chattels, and real property belonging to him.

(2)        Leasehold estates of three years duration or more owned by him.

(3)        Equitable and legal rights of redemption in personal and real property pledged or mortgaged by him, or transferred to a trustee for security by him.

(4)        Real property or goods and chattels of which any person is seized or possessed in trust for him.

(5)        Choses in action represented by instruments which are indispensable to the chose in action.

(6)        Choses in action represented by indispensable instruments, which are secured by any interest in property, together with the security interest in property.

(7)        Interests as vendee under conditional sales contracts of personal property.

"(b)      Upon the sale under execution of any property or interest for which no provision is otherwise made under this Article for the furnishing of a deed or other instrument of title, the officer holding the sale shall execute and deliver to the purchaser a bill of sale.

"(c)       No execution shall be levied on growing crops until they are matured."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective on July 1, 1961.

In the General Assembly read three times and ratified, this the 23rd day of March, 1961.