Power of Sale definition

Power of Sale means a provision in a lien instrument authorizing, in the event of a specified default, a sale of the property subject to the lien.

Power of Sale means all remedial powers of a mortgagee pursuant to section 56(1)(a)- (c);

Power of Sale means any Law which permits the holder of this Mortgage to foreclose this Mortgage by power of sale and/or to sell any portion of the Property through either judicial or non-judicial means or at a judicial or non-judicial sale. If the Property is located in the State of New York, the meaning of such term shall also include the power to sell pursuant Article 14 of the Real Property Actions and Proceeding Law of New York and similar Laws.

Examples of Power of Sale in a sentence

• The parties hereto are cognizant of and acknowledge the Oklahoma Power of Sale Mortgage Foreclosure Act which went into effect November 1, 1986.

• FORM Mortgagee's sale of real estate By virtue of and in execution of the Power of Sale contained in a certain Mortgage Deed given by .................

• PROVIDED ALWAYS that before making any such entry or taking possession as aforesaid or making any sale, calling in, collection or conversion under the aforesaid power in that behalf (hereinafter referred to as the "Power of Sale"), the Trustee shall give written notice of their intention to the Company.

• The statutory powers of leasing conferred on the Security Trustee shall be extended so as to authorise the Security Trustee to lease and make agreements for leases at a premium or otherwise, to accept surrenders of leases and to grant options on such terms as the Security Trustee shall consider expedient and without the need to observe any of the provisions of sections 99 and 100 Law of Property Xxx 0000, and Clause 8.2 (Power of Sale) shall operate as a variation and extension of section 101 of such Act.

• Such power of sale shall be exercised by giving Mortgagor notice of Intent to Foreclose by Power of Sale and setting forth among other things, the nature of the breach(es), Events of Default or default(s) and the action required to effect a cure thereof and the time period within which such cure may be effected all in compliance with the Oklahoma Power of Sale Mortgage Foreclosure 46 Okla.

More Definitions of Power of Sale

Power of Sale means the right, power and authority of Mortgagee to sell or cause the sale of the Mortgaged Property and/or a part or parts thereof, at a public sale or auction, after any Event of Default and in accordance with and pursuant to Article 14 of the Real Property Actions and Proceedings Law of the State of New York, as the same may hereafter be modified or amended, or any successor statute or statutes, and/or under and pursuant to any other laws or regulations now in effect and/or hereafter enacted, which provides for and/or enables the property encumbered by a mortgage to be sold by a mortgagee and/or its agents and/or representatives in a public and/or private non-judicial sale.

Power of Sale means a provision in a lien instrument

Power of Sale means the right, power and authority of Mortgagee to sell or cause the sale of the Mortgaged Property and/or a part or parts thereof, at public sale or auction, after any Event of Default and in accordance with and pursuant to any statute or law of the state or jurisdiction in which the Premises are located permitting the sale of property subject to a mortgage or security agreement in a non-judicial foreclosure sale, as any such statute or law may be in effect on the date hereof, or may be hereinafter enacted and/or modified or amended, or any successor statute or statutes, and/or under and pursuant to any other laws or regulations now in effect and/or hereafter enacted, which provides for and/or enables the property encumbered by a mortgage to be sold by a mortgagee and/or their respective agents and/or representatives in a public and/or private non-judicial sale.

Power of Sale shall have the meaning ascribed thereto in Section 17 hereof.

Power of Sale in relation to the Special Chargee means the power of sale (if any) conferred by the Special Charge.

Power of Sale means a clause in a mortgage contract, or a statutory power, giving the mortgagee the right and power on default of the debt, to advertise and sell the mortgaged property by public auction or private contract to satisfy,

Power of Sale means a provision in a lien instrument pre-authorizing a person to sell the property upon a specified default. Md. Rule 14-201(b)(6). An “assent to decree” means a provision in a lien instrument declaring consent to the entry of an order in court for the sale of the property subject to the lien upon a specified default. Simard, 383 Md. at 287. Both types of mortgage provisions are governed by the Maryland Rules as authorized by Section 7-105 of the Real Property Article. For the three basic types of mortgages described, each involves varying degrees of court supervision of the foreclosure process including the requirement for a formal hearing or not.