§ 1-339. 36. Private sale; upset bid; subsequent procedure; defaulting bidder.

(a)Every private sale of real or personal property, except a sale of personal property as provided by G.S. 1-339.34, is subject to an upset bid on the same conditions and in the same manner as is provided by G.S. 1-339.25. (b)When an upset bid is made for property sold at private sale, subsequent procedure with respect to the upset bid is the same as for upset bids submitted in connection with real property sold at public sale, except that the notice of any resale of personal property held pursuant to an order granted under G.S. 1-339.27A need not be published in a newspaper but shall be posted as provided by G.S. 1-339.17. (c)Subsections (e) and (f) of G.S. 1-339.30 apply to a defaulting bidder in a private sale. History: History.1949, c. 719, s. 1; 2001-271, s. 9; 2021-91, s. 2(a).