power of sale
power of sale see power 2b

Merriam-Webster’s Dictionary of Law. . 1996.

power of sale
A clause commonly inserted in a mortgage and deed of trust that grants the creditor or trustee the right and authority, upon default in the payment of the debt, to advertise and sell the property at public auction, without resorting to a court for authorization to do so.

Dictionary from West's Encyclopedia of American Law. 2005.


power of sale
A clause commonly inserted in a mortgage and deed of trust that grants the creditor or trustee the right and authority, upon default in the payment of the debt, to advertise and sell the property at public auction, without resorting to a court for authorization to do so.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Look at other dictionaries:

  • power of sale — The right to sell land when a mortgage is in default. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • Power Of Sale — A clause written into a mortgage authorizing the mortgagee (lender) to sell the property in the event of default, in order to repay the mortgage debt. As a mortgage term, power of sale is equivalent to the term foreclosure. The power of sale is… …   Investment dictionary

  • power of sale — A provision in a chattel mortgage for the enforcement of the lien of the mortgage by sale, without the necessity of resort to judicial proceedings. 15 Am J2d Chat Mtg §§ 127 et seq. A provision in a real estate mortgage, or in a separate… …   Ballentine's law dictionary

  • testamentary power of sale — A power of sale of real or personal property of a decedent conferred upon the executor of the estate of the decedent by his will. 31 Am J2d Ex & Ad § 437. Where a power of sale is given to an executor by virtue of his office, and not to him as an …   Ballentine's law dictionary

  • power — pow·er n 1: capability of acting or of producing an effect parties of unequal bargaining power 2 a: authority or capacity to act that is delegated by law or constitution often used in pl. commerce power often cap C&P: the power delegated to… …   Law dictionary

  • Power Rangers — The current logo for the Power Rangers franchise …   Wikipedia

  • power — The right, ability, authority, or faculty of doing something. Authority to do any act which the grantor might himself lawfully perform. Porter v. Household Finance Corp. of Columbus, D.C.Ohio, 385 F.Supp. 336, 341. A power is an ability on the… …   Black's law dictionary

  • sale under power — A method of foreclosing a mortgage on real estate without resort to the court. 37 Am J1st Mtg § 647. A method of enforcing a chattel mortgage without the necessity of resort to judicial proceedings. 15 Am J2d Chat Mtg §§ 127 et seq. Broadly, any… …   Ballentine's law dictionary

  • power of disposal — An expression used in reference to the power of one other than the owner of property to dispose of it by will. See power of appointment; power of sale …   Ballentine's law dictionary

  • sale and exchange — See power of sale and exchange …   Ballentine's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.