North Dakota § 35-22-02 Right to foreclose - Prerequisites - Recording

North Dakota Statutes

§ 35-22-02 — Right to foreclose - Prerequisites - Recording

North Dakota·Title 35 Liens·Ch. 35-22 Foreclosure of Mortgages of Real Property by Advertisement

To entitle a party to foreclose by advertisement, it is requisite:

1.That default in a condition of the mortgage has occurred by which the power of sale has become operative;

2.That no action or proceeding has been instituted at law to recover the debt then remaining secured by the mortgage, or any part thereof, or if any action or proceeding has been instituted, that the same has been discontinued or that an execution upon the judgment rendered therein has been returned unsatisfied in whole or in part; and

3.That the mortgage containing the power of sale has been recorded and, if it has been assigned, that all the assignments thereof have been recorded.

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To entitle a party to foreclose by advertisement, it is requisite:
1. That default in a condition of the mortgage has occurred by which the power of sale
has become operative;
2. That no action or proceeding has been instituted at law to recover the debt then
remaining secured by the mortgage, or any part thereof, or if any action or proceeding
has been instituted, that the same has been discontinued or that an execution upon
the judgment rendered therein has been returned unsatisfied in whole or in part; and
3. That the mortgage containing the power of sale has been recorded and, if it has been
assigned, that all the assignments thereof have been recorded.

North Dakota § 35-22-02 (Right to foreclose - Prerequisites - Recording) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.