§ 3714. — Record of foreclosure and sale.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3714]
TITLE 12--BANKS AND BANKING
CHAPTER 38--MULTIFAMILY MORTGAGE FORECLOSURE
Sec. 3714. Record of foreclosure and sale
(a) 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 an affidavit or addendum to the deed stating--
(1) that the mortgage was held by the Secretary;
(2) the particulars of the foreclosure commissioner's service of
notice of default and foreclosure sale in accordance with sections
3708 and 3710 of this title;
(3) 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;
(4) a correct statement of the costs of foreclosure, calculated
in accordance with section 3711 of this title; and
(5) the name of the successful bidder and the amount of the
successful bid.
(b) The deed executed by the foreclosure commissioner, the
foreclosure commissioner's affidavit 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.
(Pub. L. 97-35, title III, Sec. 369F, Aug. 13, 1981, 95 Stat. 430.)
