(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 -
(1) the date, time, and place of the foreclosure sale;
(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;
(4) the date and place of filing the notice of default and
foreclosure sale;
(5) that the foreclosure was conducted in accordance with the
provisions of this chapter and with the terms of the notice of
default and foreclosure sale; and
(6) the sale amount.
(b) Effect of statements
The items set forth in subsection (a) of this section shall -
(1) be prima facie evidence of the truth of such facts in any
Federal or State court; and
(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.
Email
Print