GroundRules
N.C. Gen. Stat. § 45-67: Definitions.
Where this section sits in the code
- Chapter 45. Mortgages and Deeds of Trust.
- Article 7. Instruments to Secure Future Advances and Future Obligations.
The following definitions apply in this Article:
(1) Advance. - A disbursement of funds or other action that increases the outstanding principal balance owing on an obligation for the payment of money.
(2) Security instrument. - A mortgage, deed of trust, or other instrument relating to real property securing an obligation or obligations to a person, firm, or corporation specifically named in such instrument for the payment of money. (1969, c. 736, s. 1; 1989, c. 496, s. 1; 2009-197, s. 1.)
Collected 2026-08-27T18:02:57Z. Source file · JSON