Title 12 — Banks and Banking
Chapter 38 — Multifamily Mortgage Foreclosure
§ 3714. Record of foreclosure and sale
Statutory text
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 an affidavit or addendum to the deed stating—
that the mortgage was held by the Secretary;
the particulars of the foreclosure commissioner’s service of notice of default and foreclosure sale in accordance with sections 3708 and 3710 of this title;
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;
a correct statement of the costs of foreclosure, calculated in accordance with section 3711 of this title; and
the name of the successful bidder and the amount of the successful bid.
The deed executed by the foreclosure commissioner, the foreclosure commissioner’s affidavit and any other instruments submitted for recordation in relation to the foreclosure of the security property under this chapter shall be accepted for recordation by the registrar of deeds or other appropriate official of the county or counties in which the security property is located upon tendering of payment of the usual recording fees for such instruments.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Multifamily Mortgage Foreclosure Act of 1981
Pub. L. 97–35 title III § 369F · 95 Stat. 357
Enacted · 12 U.S.C. § 3714
(Pub. L. 97–35, title III, § 369F, Aug. 13, 1981, 95 Stat. 430.)
Source evidence
Code source credit
(Pub. L. 97–35, title III, § 369F, Aug. 13, 1981, 95 Stat. 430.)Enacted provision · exact public law section
Sec. 369F. record of foreclosure and sale (a) 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 an affidavit or addendum to the deed stating— (1) that the mortgage was held by the Secretary; (2) the particulars of the foreclosure commissioner’s service of notice of default and foreclosure sale in accordance with sections 369 and 369B; (3) that the foreclosure was conducted in accordance with the provisions of this part and with the terms of the notice of default and foreclosure sale; (4) a correct statement of the costs of foreclosure, calculated in accordance with section 369C; and (5) the name of the successful bidder and the amount of the successful bid. (b) The deed executed by the foreclosure commissioner, the foreclosure commissioner’s affidavit and any other instruments submitted for recordation in relation to the foreclosure of the security property under this part shall be accepted for recordation by the registrar of deeds or other appropriate official of the county or counties in which the security property is located upon tendering of payment of the usual recording fees for such instruments.
1 of 1 references resolved to an enrolled provision