12-U.S.C.-3761
§3761 – Foreclosure Costs
Pathway
Title 12 > Chapter 38A > Section 3761
Details
- Reference: Section 3761
- Legend: §3761 – Foreclosure Costs
- USCode Year: 2013
Provision Content
The following foreclosure costs shall be paid from the sale proceeds before satisfaction of any other claim to such sale proceeds:
(1) Advertising and postage
Necessary advertising costs and postage incurred in giving notice pursuant to sections 3758 and 3760 of this title.
(2) Mileage
Mileage (determined by the most reasonable road distance) for posting notices and for the foreclosure commissioners or auctioneers attendance at the sale, as provided in section 1821 of title 28.
(3) Title and lien search
Reasonable and necessary costs incurred in connection with any search of title and lien records.
(4) Recordation fees
Costs incurred to record documents.
(5) Commission
A commission for the foreclosure commissioner (if the foreclosure commissioner is not an employee of the United States) for the conduct of the foreclosure, to the extent such a commission is authorized by the Secretary.
(Pub. L. 103–327, title II, Sept. 28, 1994, 108 Stat. 2316.)
Codification
Section is based on section 812 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.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-3709 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-3709, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-3753 in the Legal Encyclopedia: Mortgage
In this entry about 12-U.S.C.-3753, find legal reference material, bibliographies and premiere content related to mortgage in the American Encyclopedia of Law, presenting a comprehensive view of the United States mortgage-specific issues, written by authorities in the field.
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