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power of sale

   Also found in: Legal 0.01 sec.
power of sale

A mortgage or deed of trust clause granting the lender the right to sell mortgaged property in the event of a default.



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Kinds of Foreclosure Notices The two most common types of foreclosure notices issued throughout the United States are the Judicial Foreclosure Notice and the Power of Sale Foreclosure Notice.
However, the method of disposing of the hotel brought controversy between the anti-corruption commission and CBK since the latter decided to use its statutory power of sale.
Most loan documents (Deed of Trust) have a power of sale clause authorizing the lender to conduct a foreclosure auction to sell the defaulted borrower''s property.
 
 
 
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