12 USC § 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—
(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;
(b)
Effect of statements
The items set forth in subsection (a) of this section shall—
(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.
(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—
(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;
(b)
Effect of statements
The items set forth in subsection (a) of this section shall—
(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.
Source
(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.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Wednesday, May 29, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
| 12 USC | Description of Change | Session Year | Public Law | Statutes at Large |
|---|
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.
This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].
It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.
