Effect of enforcement by mortgagee
N.D. Cent. Code § 32-10.1-24
in effect32-10.1-24. Effect of enforcement by mortgagee
1. A request by a mortgagee for appointment of a receiver, the appointment of a receiver,
or application by a mortgagee of receivership property or proceeds to the secured
obligation does not:
a. Make the mortgagee a mortgagee in possession of the real property;
b. Make the mortgagee an agent of the owner;
c. Constitute an election of remedies that precludes a later action to enforce the
secured obligation;
d. Make the secured obligation unenforceable;
e. Limit any right available to the mortgagee with respect to the secured obligation;
or
f. Except as otherwise provided in subsection 2, bar a deficiency judgment in
accordance with any other provision of law governing or relating to a deficiency
judgment.
2. If a receiver sells receivership property that under subsection 3 of section 32-10.1-15
is free of a lien, the ability of a creditor to enforce an obligation that had been secured
by the lien is subject to the law of this state other than this chapter relating to a
deficiency judgment.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t32c10-1.pdf#nameddest=32-10p1-24Fetched: 10/16/2026