State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-339_20

§1‑339.20.  Public sale; postponement of sale.

(a)        A person authorizedto hold a public sale by auction may postpone the sale to a day certain notlater than six days, exclusive of Sunday, after the original date for the sale,and a person authorized to hold a public sale of timber by sealed bid maypostpone the time for submitting and opening bids to a date, time, and placecertain not later than six days, exclusive of Sunday, after the original datefor the opening of bids:

(1)        When there are nobidders, or

(2)        When, in hisjudgment, the number of prospective bidders at the sale is substantiallydecreased by inclement weather or by any casualty, or

(3)        When there are somany other sales advertised to be held at the same time and place as to make itinexpedient and impracticable, in his judgment, to hold the sale on that day,or

(4)        When he is unable tohold the sale because of illness or for other good reason, or

(5)        When other goodcause exists.

(b)        Upon postponementof public sale the person authorized to hold the sale shall personally, orthrough his agent or attorney

(1)        At the time andplace advertised for the sale or for the opening of sealed bids, publiclyannounce the postponement thereof;

(2)        On the same day,attach to or enter on the original notice of sale or a copy thereof posted, asprovided in G.S. 1‑339.17 in the case of real property or G.S. 1‑339.18in the case of personal property, a notice of the postponement; and

(3)        In the case of apublic sale of timber by sealed bid, give notice of postponement to each personwho submitted a bid.

(c)        The notice ofpostponement shall:

(1)        State that the saleis postponed,

(2)        In the case of asale by public auction, state the hour and date to which the sale is postponed,

(2a)      In the case of a saleof timber by sealed bid, state the date, time, and place to which the openingof bids is postponed,

(3)        State the reason forthe postponement, and

(4)        Be signed by theperson authorized to hold the sale, or by his agent or attorney.

(d)        If a public sale isnot held at the time fixed therefor and is not postponed as provided by thissection, or if a postponed sale is not held at the time fixed therefor, theperson authorized to make the sale shall report the facts with respect theretoto the judge or clerk of court having jurisdiction, who shall thereupon make anorder for the public sale of the property to be held at such time and place andupon such notice to be given in such manner and for such length of time as hedeems advisable. (1949, c. 719, s. 1; 1971, c. 268, s. 18; 1997‑83,ss. 10‑12.)