Tag Archive: "North Carolina"
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North Carolina Provides Alternative Procedure for Satisfaction of Security Interest
by: Louis DanastorgRecently North Carolina’s General Assembly introduced and ratified an alternate procedure for satisfaction of security interests-effective July 1, 2013. The revisions provide for the use of a satisfaction agent, who would be authorized to record an affidavit of satisfaction when he or she had reasonable belief the secured obligation had been paid or […]
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North Carolina Corrects and Amends the Notary Public Act
by: Louis DanastorgOn June 18th, 2013 North Carolina’s General Assembly ratified corrections and amendments to the Notary Public Act. Within North Carolina notaries public facilitate the recording of security instruments affecting real property with the Registry of Deeds. Typically notaries public will perform signature acknowledgements, administer oaths and affirmations, and verify or prove signatures presented […]
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North Carolina Enacts Modifications to its Consumer Finance Act
by: Louis Danastorg North Carolina’s Consumer Finance Act allows banks and non-banking institutions to make consumer loans under $10,000; now $15,000-reminiscent of predatory “payday” loans and cash advances, which are currently banned in the state. Consumer finance lenders typically offer scaled interest rate schemes and shorter loan terms, collecting various additional fees that drive up […]
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North Carolina Amends SAFE Act
by: Louis Danastorg North Carolina’s General Assembly Amends the Secure and Fair Enforcement Mortgage Licensing Act to Provide for the Licensure of a Transitional Mortgage Loan Originator Earlier this July, North Carolina’s General Assembly amended a number of NC SAFE provisions related and applying to applications for the licensure of transitional mortgage loan originators filed […]
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North Carolina Modifies Provisions Regarding Trusts, Estates, and Powers of Attorney
by: Louis DanastorgOn June 5th, 2013 the General Assembly of North Carolina passed an act purposed to update and clarify provisions of the laws governing estates, trusts, guardianships, powers of attorney, and other fiduciaries. These revisions become effective October 1, 2013 and apply to estates of decedents dying on or after that date. Part 1: […]
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North Carolina Adds Provisions Regarding Marital Property & Counsel Fees
by: Louis Danastorg Provisions Regarding Marital Property October 1, 2013, North Carolina’s amended definition of marital property to include entireties property will come into effect. The General Assembly added to the definition that all real property creating a tenancy by the entirety acquired after the date of marriage and before separation will be considered marital […]