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:

Basal Ganglia

Group of structures in the brain involved in coordinating movement, behavior, and emotion.

Limbic System

The limbic system is a complex set of brain structures located on both sides of the thalamus, directly beneath the cerebrum, involved in emotion, behavior, motivation, long-term memory, and olfaction.

Red Nucleus

A structure within the midbrain involved in motor coordination, playing a role in the control of limb movements.

Tegmentum

Floor (area below the ventricle) of the midbrain; a collection of nuclei with movement-related, species-specific, and pain perception functions.