A power of sale clause is required for?

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Business

Aditya Coleman

30 July, 06:14

A power of sale clause is required for?

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Jaden · Answer 1

A power of sale provision is a clause in the deed of trust or mortgage in which the borrower pre-authorizes the sale of property by way of a nonjudicial foreclosure to pay off the balance of the loan in the event of a default. With a power of sale foreclosure, the lender can foreclose without court oversight.