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Power of sale clause
A clause in a trust deed that gives the trustee the right to sell borrower's property publicly, without court procedure, if the borrower defaults on the loan.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Real estate
- Category: General
- Company: Coldwell Banker
- Product:
- Acronym-Abbreviation:
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