12-U.S.C.-3765
§3765 – Effect of Sale
Pathway
Title 12 > Chapter 38A > Section 3765
Details
- Reference: Section 3765
- Legend: §3765 – Effect of Sale
- USCode Year: 2013
Provision Content
A sale, made and conducted as prescribed in this chapter to a bona fide purchaser, shall bar all claims upon, or with respect to, the property sold, for each of the following persons:
(1) Notice recipients
Any person to whom the notice of default and foreclosure sale was mailed as provided in this chapter, and the heir, devisee, executor, administrator, successor, or assignee claiming under any such person.
(2) Subordinate claimants with knowledge
Any person claiming any interest in the property subordinate to that of the mortgage, if such person had actual knowledge of the foreclosure sale.
(3) Nonrecorded claimants
Any person claiming any interest in the property, whose assignment, mortgage, or other conveyance was not duly recorded or filed in the proper place for recording or filing, or whose judgment or decree was not duly docketed or filed in the proper place for docketing or filing, before the date on which the notice of the foreclosure sale was first served by publication, as required by section 3758(3) of this title, and the executor, administrator, or assignee of such a person.
(4) Other persons
Any person claiming an interest in the property under a statutory lien or encumbrance created subsequent to the recording or filing of the mortgage being foreclosed, and attaching to the title or interest of any person designated in any of the foregoing paragraphs.
(Pub. L. 103–327, title II, Sept. 28, 1994, 108 Stat. 2316.)
Codification
Section is based on section 816 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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