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Power of sale is a clause that can be put in a deed allowing the lender to sell a property if the owner defaults on the loan. When this clause is present a borrower can sell the property with minimal notice and foreclose without court interference.

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11y ago

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Related Questions

Is Grant Bargain Sale Deed a Warranty Deed?

No. A bargain and sale deed is not the same as a warranty deed. The primary difference is that a bargain and sale deed does not guarantee that the seller holds clear title to the property.


Consenting deed for the sale deed?

How do you add a name to a deed


Should you sell my house with a contract for deed?

It could be possible only when you execute a power of attorney in favour of me prior to the execution of contract for deed of sale.


What is difference between deed of transfer and agreement for sale?

A deed transfer is where under a contract of sale of property in goods is transferred from the seller to the buyer while agreement for sale is where transfer of property is to take place at a future time or is subject to some conditions to be fulfilled latter.


How important is the deed of sale of the land?

Since a deed is the instrument of sale for real property which proves the seller's right to convey and the buyer's right of ownership, it is critical to the sale because it is the buyer's only proof of ownership. It is critical to note that ownership customarily does not pass from the seller to the buyer unless and until the deed is recorded with the clerk of the court in the jurisdiction in which the property is located.


Can you quit claim a deed after bankruptcy is discharged?

Yes, because after bk discharge you still own the house . The only way to get out from under the house is to get your name off the deed. Ether by forcloser, short sale, or normal sale. If you can find someone to quit claim deed to that will work also. Because after bk discharge you are not responsible for the mortgage, so if you can get off of the deed you are free.


Do you have to remove husbands name from deed to sale property?

He would have to agree to any sale of property that he owns jointly with you, Unless you have a death certificate for him or he gave you a power of attorney document.


I wish to add my wife's name to my deed Do I use quitclaim or Bargain Sale deed?

you can use quit claim deed


Do you have to short sale before a deed in lieu?

yes.


What is the difference between Grant Deed and Trustee's Deed Upon Sale in CA?

A grant deed is an instrument used to transfer an interest in real estate to a new owner. In some jurisdictions this is called a warranty deed.In some jurisdictions, a deed of trust is an instrument recorded by a lender as security for a loan. This is commonly referred to as a mortgage. In other jurisdictions a deed of trust may be used to refer to a deed that transfers real property to a trustee of a trust.


What is the different between bill of sale and title?

with cars no, Your bill of sale is the title or deed to your vehicle


Will a deed of sale be valid if an authorizing signature was forged?

The deed would be declared invalid. It was obtained through fraud.