12 USC 3764 - Record of foreclosure and sale

U.S Code last checked for updates: Nov 25, 2024

§ 3764.

Record of foreclosure and sale

(a)

Statements included

To establish a sufficient record of foreclosure and sale, the foreclosure commissioner shall include in the recitals of the deed to the purchaser, or prepare as an affidavit or addendum to the deed, a statement setting forth—

(1)

the date, time, and place of the foreclosure sale;

(2)

that the mortgage was held by the Secretary, the date of the mortgage, the office in which the mortgage was recorded, and the liber number and folio or other appropriate description of the recordation of the mortgage;

(3)

the particulars of the foreclosure commissioner’s service of the notice of default and foreclosure sale in accordance with sections 3758 and 3760 of this title;

(4)

the date and place of filing the notice of default and foreclosure sale;

(5)

that the foreclosure was conducted in accordance with the provisions of this chapter and with the terms of the notice of default and foreclosure sale; and

(6)

the sale amount.

(b)

Effect of statements

The items set forth in subsection (a) shall—

(1)

be prima facie evidence of the truth of such facts in any Federal or State court; and

(2)

evidence a conclusive presumption in favor of bona fide purchasers and encumbrancers for value without notice.

Encumbrancers for value include liens placed by lenders who provide the purchaser with purchase money in exchange for a security interest in the newly-conveyed property.

(c)

Recordation of instruments

(Pub. L. 103–327, title II, Sept. 28, 1994, 108 Stat. 2316.)

cite as: 12 USC 3764