North Dakota Servicing Reference Guide
- Kacey Olson
Owned by Kacey Olson
| Citation | Topic | Requirement |
| N.D. Cent. Code §32-19-41 | Abandoned Personal Property | The grantee in a sheriff's deed that has been recorded, or after receipt and recording of a deed in lieu of foreclosure, may retain and dispose of without legal process any personal property left on the real property thirty days after the issuance of a sheriff's deed. If the total estimated value of the personal property is five hundred dollars or more, the record title owner shall make reasonable efforts to notify in writing the mortgagor or person who was entitled to possession of the real property during the redemption period by certified mail at least fifteen days before disposing of the personal property. Service by mail is complete upon mailing. The record title owner is entitled to the proceeds from the sale of the personal property, after all costs incidental to removal, storage, disposal, and sale of the property have been deducted. This section applies only to tracts of land not exceeding forty acres [16.19 hectares]. |
| Real Property Laws / N.D. Cent. Code §47-10.2-02 | Annual Escrow Account Notice | If an escrow account is maintained by the servicer of a secondary residential mortgage for a secondary mortgagee, and the account contains an excess amount, the servicer shall provide written notice to the borrower, on or before March 1st of the following year, of the escrow account status. The information provided to the borrower must include the balance in the escrow account after the annual payment of taxes and special assessments. |
| Lien Laws / N.D. Cent. Code §35-01-27 | Loan Satisfaction | Within 60 days after a mortgage is satisfied or within 30 days of receipt of a written demand of the owner of the property, whichever is shorter, the owners of the mortgage must execute a certificate of discharge duly acknowledged, and cause a satisfaction of record to be entered. The fee for filing the satisfaction must be paid by the owner of the property or added to the debt paid by the owner of the property. |
| Judicial Remedies / N.D. Cent. Code §32-19-20; 21 & 22 | Notice of Default | At least 30 days and not more than 90 days prior to the commencement of any action or proceeding for the foreclosure of a mortgage on real estate, a written Notice of Default must be served on the title owner of record of the real estate. The notice must contain: (1) a description of the real estate; (2) the date and amount of the mortgage; (3) the amount due to bring the installments of principal and interest current as of a date specified, and the amount advanced by the mortgagee for taxes, insurance, and maintenance, separately itemized; and (4) a statement that if the amount due is not paid within 30 days from the date of the mailing or service of the notice proceedings will be commenced to foreclose the mortgage. The notice may be served by mail, as provided in rule 4 of the Rules of Civil Procedure, addressed to the owner of record at the owner's post-office address in the mortgage or by the records in the chain of title. If the post-office address is not shown in the mortgage or in the records, the notice may be served as provided in rule 4 of the Rules of Civil Procedure, addressed to the owner of record at the post-office nearest any part or tract of the real estate. |
| Judicial Procedures / N.D. Cent. Code §28-23-04(1) & (2) | Notice of Sale | Before any real property or interest in real property may be sold, the officer making the sale must give public notice of the time and place of the sale by advertisement in the county's official newspaper once a week for 3 successive weeks. The last publication of the notice must be at least 10 days prior to the making of the sale. Except for parties who have an ownership interest in the real property, the names of all defendants may be omitted from the public notice. If the names of the nonowner defendants are omitted, a copy of the public notice must be mailed to all defendants whose names are omitted at least 10 days before the date of the sale. Service by mail is complete upon mailing. |
| Lien Laws / N.D. Cent. Code §35-03-18 | Payoff Statement | Unless otherwise stated in the loan or mortgage, within 7 business days after receipt of a written request containing the name of the owner and loan number, the servicer of a mortgage must provide to the owner of the property information concerning the amount necessary to pay off the loan and of any amount held in escrow for payment of insurance premiums, taxes, and other costs relating to the real property when the written request indicates that the information is necessary to close a sale of the property. The servicer may not charge any fee for providing the information. |