North Carolina Exemptions Legislative History | Your North Carolina Bankruptcy Expert

By Ed Boltz, 12 December, 2021

Bankr. M.D.N.C.: City of Winston-Salem v. Northwest Child Development Centers, Inc.- Declaratory Judgment regarding Reversion of Property

Summary:

Northwest Child Development Centers operates a daycare center in Mocksville, North Carolina, and previously operated a separate facility at 2530 Pittsburg Avenue, Winston-Salem, North Carolina (the “Property”). NWDC had acquired the Property from City of Winston-Salem and Forsyth County (collectively "Winston-Salem") in 1998, after leasing it since 1971, subject to a Restrictive Use provision in the deed provided that: