Power of sale clause

Power of sale clause

A clause in a trust deed that gives the trustee the right to sell borrower's property publicly, without court procedure, if the borrower defaults on the loan.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
Acronym-Abbreviation:

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power of sale clause

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