58-2302. Deed as mortgage.
58-2302
58-2302. Deed as mortgage.When a deed of real property purports to be an absolute conveyance, butis intended to be defeasible on the performance of certain conditions, suchdeed shall not be defeated or affected as against any person other than thegrantee or his or her heirs or devisees, or persons having actual notice,unless an instrument of defeasance, duly executed and acknowledged, shall havebeen recorded in the office of the register of deeds of the county wherethe lands lie.
History: G.S. 1868, ch. 68, § 2; Oct. 31; R.S. 1923, 67-302.