North Carolina § 1-339 - 36. Private sale; upset bid; subsequent procedure; defaulting bidder.

§ 1-339. 36. Private sale; upset bid; subsequent procedure; defaulting bidder.

Every private sale of real or personal property, except a sale of personal property as provided by G.S. 1-339.34, is subject to an upset bid on the same conditions and in the same manner as is provided by G.S. 1-339.25. When an upset bid is made for property sold at private sale, subsequent procedure with respect to the upset bid is the same as for upset bids submitted in connection with real property sold at public sale, except that the notice of any resale of personal property held pursuant to an order granted under G.S. 1-339.27A need not be published in a newspaper but shall be posted as provided by G.S. 1-339.17. Subsections (e) and (f) of G.S. 1-339.30 apply to a defaulting bidder in a private sale. History (1949, c. 719, s. 1; 2001-271, s. 9; 2021-91, s. 2(a).) Editor's Note. - Session Laws 2021-91, s. 2(d), made subsection (c) of this section, as added by Session Laws 2021-91, s. 2(a), effective July 22, 2021, and applicable to actions or proceedings pending on or commenced on or after that date. Effect of Amendments. - Session Laws 2021-91, s. 2(a), added "defaulting bidder" to the end of the section heading; and added subsection (c). For effective date and applicability, see editor's note.