Mortgage Lender’s Reformation Claim Deemed Timely Under Statute Of Limitations

(August 16, 2021, 9:09 AM EDT) -- RALEIGH, N.C. — A North Carolina appellate court erred in overturning a trial court’s grant of summary judgment in favor of a mortgage lender seeking reformation of a deed of trust and allowing foreclosure on real property because it applied the wrong statute in determining that the lender’s reformation claim was barred by the statute of limitations based on a mutual mistake, the state Supreme Court held in reversing Aug. 13....

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