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ARMEL MANAGEMENT CORP. v. STANHAGEN

No. 7726SC311.

241 S.E.2d 713 (1978)

ARMEL MANAGEMENT CORPORATION v. William H. STANHAGEN.

Court of Appeals of North Carolina.

March 7, 1978.

Attorney(s) appearing for the Case

Bradley, Guthery, Turner & Curry, by Paul B. Guthery, Jr., Charlotte, for plaintiff appellee.

Lindsey, Schrimsher, Erwin, Bernhardt & Hewitt, by Lawrence W. Hewitt, Charlotte, for the defendant appellant.

HEDRICK, Judge.

North Carolina General Statute 45-21.36 in pertinent part provides:

Deficiency judgments abolished where mortgage represents part of purchase price.—In all sales of real property by mortgagees and/or trustees under powers of sale contained in any mortgage or deed of trust executed after February 6, 1933,. . . to secure to the seller the payment of the balance of the purchase price of real property, the mortgagee or trustee or...

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