Generally the fastest and cheapest mortgage enforcement method open to lenders. A common clause in a mortgage agreement which gives the lender the right to take over and sell the property to cure the borrower's default. The sale proceeds are allocated first to principal and interest, then to penalties, then to the lender's costs in exercising the power, then to other registered claimants and finally to the borrower if there is any left.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). power of sale. Retrieved September 25, 2026, from http://smartdefine.org/power_of_sale/definitions/1160833 |
| Chicago | Barry Goldsmith. 2010. "power of sale" http://smartdefine.org/power_of_sale/definitions/1160833 (accessed September 25, 2026). |
| Harvard | Barry Goldsmith 2010, power of sale, Smart Define, viewed 25 September, 2026, <http://smartdefine.org/power_of_sale/definitions/1160833>. |
| MLA | Barry Goldsmith. "power of sale" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/power_of_sale/definitions/1160833> |