NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 1021

HOUSE BILL 961

 

 

AN ACT TO PROVIDE A METHOD OF RECORDING SUBSEQUENT ENTRIES RELATING TO INSTRUMENTS RECORDED ON MICROFILM IN THE OFFICE OF THE REGISTER OF DEEDS.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Chapter 45 of the General Statutes of North Carolina is amended by the addition of a new Section immediately following G.S. 45-37.1, to be designated G.S. 45-37.2 and to read as follows:

"§ 45-37.2.  Recording Satisfactions of Deeds of Trust and Mortgages in Counties Using Microfilm. In any county in which deeds of trust and mortgages are recorded in the office of the register of deeds by a microphotographic process or by any other method or process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds shall record the satisfaction and cancel the record of each such instrument satisfied by recording a notice of satisfaction which shall consist of a separate instrument, or that, part of the original deed of trust or mortgage re-recorded, reciting the names of all parties to the original instrument, the amount of the obligation secured, the date of satisfaction of the obligation, the appropriate entry of satisfaction as provided in G.S. 45-37, a reference by book and page number to the record of the instrument satisfied, and the date of recording the notice of satisfaction. There shall also be entered in the alphabetical indexes kept by the register of deeds, opposite the name of each grantor and grantee of the deed of trust or mortgage, the word "satisfied" followed by a reference to the book and page of the record notice of satisfaction."

Sec. 2.  G.S. 45-38 is amended by adding at the end thereof the following paragraph:

"Provided, that in counties in which deeds of trust and mortgages are recorded in the office of the register of deeds by a microphotographic process or by any other process or method which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds shall record the foreclosure of each deed of trust or mortgage foreclosed by recording a notice of foreclosure which shall consist of a separate instrument, or that part of the original deed of trust or mortgage re-recorded, reciting the information required hereinabove, the names of all parties to the original instrument, the amount of the obligation secured, a reference by book and page number to the record of the instrument foreclosed, and the date of recording the notice of foreclosure. There also shall be entered in the alphabetical indexes kept by the register of deeds, opposite the name of each grantor and grantee to the original deed of trust or mortgage, the word "foreclosed", followed by a reference to the book and page of the record notice of foreclosure."

Sec. 3.  Chapter 161 of the General Statutes is amended by the addition of a new Section immediately following G.S. 161-14 to be designated G.S. 161-14.1 and to read as follows:

"§ 161-14.1.  Recording Subsequent Entries on Records in Counties Using Microfilm. In any county in which instruments are recorded in the office of the register of deeds by a microphotographic process or by any other method or process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds may, except as provided in G.S. 45-37.2 and G.S. 45-38, record all subsequent entries as separate instruments. Such instruments shall contain the information and notations required by law for the appropriate marginal entry, a reference by book and page number to the record of the instrument modified, and the date of recording the subsequent modifying instrument. There shall also be entered in the alphabetical indexes kept by the register of deeds, opposite the name of each indexed party to the original instrument, a reference by book and page to the record of the subsequent modifying instrument."

Sec. 4.  All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.

Sec. 5.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 19th day of June, 1963.