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 October 1, 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 October 1, 2026). |
| Harvard | Barry Goldsmith 2010, power of sale, Smart Define, viewed 1 October, 2026, <http://smartdefine.org/power_of_sale/definitions/1160833>. |
| MLA | Barry Goldsmith. "power of sale" 21 October 2010. Web. 1 October 2026. <http://smartdefine.org/power_of_sale/definitions/1160833> |