Gates County Appointment of Substitute Trustee Forms (North Carolina)

Form Package

Appointment of Substitute Trustee

State

North Carolina

Area

Gates County

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$27.97

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Included Forms

All Gates County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following North Carolina and Gates County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Appointment of Substitute Trustee Forms:

• Gates County

Including:

• Corapeake
• Eure
• Gates
• Gatesville
• Hobbsville
• Roduco
• Sunbury

What is the North Carolina Appointment of Substitute Trustee

In a Deed of Trust, the trustee is an independent third party who holds conditional title on behalf of the lender for the purpose of either reconveying the property back to the borrower after the loan is repaid or selling the property if the borrower defaults on the loan. Trustee's can be replaced for many reasons, incapacity, incompetency, death, etc. Often a lender will substitute a trustee with a firm or corporation that will be conducting a foreclosure.

NCG 45-10. States:
In addition to the rights and remedies now provided by law, the noteholders may, in their discretion, substitute a trustee whether the trustee then named in the instrument is the original or a substituted trustee or a holder or owner of any or all of the obligations secured thereby, by the execution of a written document properly recorded pursuant to Chapter 47

This form is executed by the beneficiary/lender for the substitution of a trustee, it includes an optional foreclosure clause if needed for that purpose.

(North Carolina AOST Package includes form, guidelines, and completed example)

Our Promise

The documents you receive here will meet, or exceed, the Gates County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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