The Bank of North Dakota, instead of foreclosing, may take a conveyance from the owner to the state treasurer as trustee for the state of North Dakota in payment of the mortgage covering the land conveyed.
Transfer of land covered by mortgage to state by mortgagor
N.D.C.C. § 54-30-20 — under Bonds of North Dakota, Real Estate Series.
N.D.C.C. § 54-30-20