U.S. Code, Title 12, Banks and Banking

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Author: "U.S. Congress, Office of the Law Revision Counsel"

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§ 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) of this section 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

     The deed executed by the foreclosure commissioner, the foreclosure commissioner’s affidavit (if prepared) 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, and without regard to the compliance of those instruments with any other local filing requirements.

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

Codification

     Section is based on section 815 of title VIII of S. 2281, One Hundred Third Congress, as reported July 13, 1994, which was enacted into law by Pub. L. 103–327.

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Chicago: "U.S. Congress, Office of the Law Revision Counsel", "§ 3764. Record of Foreclosure and Sale," U.S. Code, Title 12, Banks and Banking in U.S. Code, Title 12, Banks and Banking (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed August 7, 2022, http://www.originalsources.com/Document.aspx?DocID=4BDBDJBI2B8JZY6.

MLA: "U.S. Congress, Office of the Law Revision Counsel". "§ 3764. Record of Foreclosure and Sale." U.S. Code, Title 12, Banks and Banking, in U.S. Code, Title 12, Banks and Banking, Washington, D.C., Government Printing Office, 2002, Original Sources. 7 Aug. 2022. http://www.originalsources.com/Document.aspx?DocID=4BDBDJBI2B8JZY6.

Harvard: "U.S. Congress, Office of the Law Revision Counsel", '§ 3764. Record of Foreclosure and Sale' in U.S. Code, Title 12, Banks and Banking. cited in 2002, U.S. Code, Title 12, Banks and Banking, Government Printing Office, Washington, D.C.. Original Sources, retrieved 7 August 2022, from http://www.originalsources.com/Document.aspx?DocID=4BDBDJBI2B8JZY6.