§ 45-18. Validation of certain acts of substituted trustees.
§45‑18. Validation of certain acts of substituted trustees.
Whenever before January 1,1979, a trustee has been substituted in a deed of trust in the manner providedby G.S. 45‑10 to 45‑17, but the instrument executed by the holderand/or owners of all or a majority in amount of the indebtedness, notes, bonds,or other instruments secured by said deed of trust, has not been registered as provided by said sections until after the substitute trustee has exercised someor all of the powers conferred by said deed of trust upon the trustee therein,including the advertising of the property conveyed by said deed of trust forsale, the sale thereof, and the execution of a deed by such substituted trusteeto the purchaser at such sale, all such acts of said substituted trustee shallbe deemed valid and effective in the same manner and to the same extent as ifsaid instrument substituting said trustee, had been registered prior to theperformance by said substituted trustee of any one or more of said acts, or otheracts authorized by such deed of trust. (1939, c. 13; 1963, c. 241;1967, c. 945; 1969, c. 477; 1971, c. 57; 1973, c. 20; 1979, c. 580.)