North Carolina § 39-13 - Spouse need not join in purchase-money mortgage.

§ 39-13. Spouse need not join in purchase-money mortgage.

A mortgage or deed of trust given by the purchaser of real property to secure a loan, the proceeds of which were used to pay all or a portion of the purchase price of the encumbered real property, regardless of whether the secured party is the seller of the real property or a third-party lender, shall be good and effectual against the purchaser's spouse as well as the purchaser, without requiring the spouse to join in the execution of the mortgage or deed of trust. History (1868-9, c. 204; Code, s. 1272; Rev., s. 958; 1907, c. 12; C.S., s. 1003; 1965, c. 852; 2018-80, s. 1.1; 2020-50, s. 3(a); 2020-69, s. 6(a).) Editor's Note. - Session Laws 2018-80, s. 4.1, as amended by Session Laws 2020-50, s. 3(a), and as amended by Session Laws 2020-69, s. 6(a), provides, in part: "The remainder of this act is effective when this act becomes law [June 25, 2018] and applies to mortgages and deeds of trust entered into before, on, or after that date and to other instruments under G.S. 47-18.3 executed before, on, or after August 1, 2020." Effect of Amendments. - Session Laws 2018-80, s. 1.1, effective June 25, 2018, rewrote the section. For applicability, see editor's note. Legal Periodicals. - For article analyzing North Carolina's tenancy by the entirety reform legislation of 1982, see 5 Campbell L. Rev. 1 (1982). Cross References. - As to abolition of dower, see G.S. 29-4 .