Power of sale clause

{
  "id": "MLC-T-LAW-003824",
  "term": "Power of sale clause",
  "field": "Law",
  "definition": "A provision in a mortgage or deed of trust that grants the lender the right to sell the property without judicial foreclosure if the borrower defaults on the loan. This allows for a quicker and less expensive foreclosure process compared to a court-ordered sale. The specific procedures for exercising a power of sale are governed by state law.",
  "url": "https://mlchart.com/terminology/law/power-of-sale-clause/"
}