What Is a "Power of Sale" in Connection with a Mortgage

question 40

Multiple Choice

What is a "power of sale" in connection with a mortgage?

• A) It is a statute allowing the secured property to be sold in order to satisfy the related debt if it is not paid according to the stated terms.
• B) It is a provision in a mortgage or deed of trust that allows a foreclosure process that does not involve court action.
• C) It is a provision in a mortgage or deed of trust that allows the borrower to sell the property even though the loan associated with the mortgage has not been paid off.
• D) It is the general principle that a mortgage or deed of trust cannot take away the borrower's legal right to sell property whether or not there is a security interest associated with it.

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Definitions:

Golf

A sport involving hitting a small ball into a series of holes with the least number of strokes possible, using various clubs.

Tennis

A racket sport that can be played individually against a single opponent or between two teams of two players each, where players hit a ball over a net trying to score points against opponents.

Curds

Soft, white substance formed when milk coagulates, used as the basis for cheese making or eaten directly as a food product.

Whey

The liquid byproduct of cheese production, rich in proteins and lactose, often used in food products and nutritional supplements.