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Possession of Promissory Note Required
NC Statutes say this:
§ 8-18. Certified copies of registered instruments evidence.
A copy of the record of any deed, mortgage, power of attorney, or other instrument required or allowed to be registered, duly authenticated by the certificate and official seal of the register of deeds of the county where the original or duly certified copy has been registered, may be given in evidence in any of the courts of the State where the original of such copy would be admitted as evidence, although the party offering the same shall be entitled to the possession of the original, and shall not account for the nonproduction thereof, unless by a rule or order of the court, made upon affidavit suggesting some material variance from the original in such registry or other sufficient grounds, such party shall have been previously required to produce the original, in which case the same shall be produced or its absence duly accounted for according to the course and practice of the court. (1846, c. 68, s. 1; R.C., c. 37, s. 16; Code, s. 1251; 1893, c. 119, s. 2; Rev., s. 1598; C.S., s. 1763.)
Doesn't the fact that the note can be transferred void this statute?
This statute looks like to me that they CAN use a copy of the mortgage instead of the original.
But wait... Is a Mortgage the same as a Note?
NOOOOOO!
The mortgage is the Deed of trust, and that is another piece of paperwork. In my commercial person's deed of trust, it clearly states that it is a security instrument.
The note is a negotiable instrument, thus a copy of it would be insufficient and seems to me it would be duplication of funds.
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