The majority of foreclosures in North Carolina are filed before the clerk of superior court as non-judicial power of sale foreclosures under Chapter 45.  The clerk of court at a power of sale foreclosure hearing is limited to hearing arguments related to six legal factors.  G.S. 45-21.16. Recently, I wrote a bulletin, which is now posted on the clerk of superior court Hot Topic page, about some of the legal defenses to a power of sale foreclosure that may be considered by the clerk at the foreclosure hearing.  One such defense, that a mere stamp is insufficient to transfer a promissory note, was addressed by the North Carolina Supreme Court.  In re Bass, 366 N.C. 464, 465 (2013). The court held that, yes, a mere stamp is enough to transfer a note.

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