44-14-162
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44-14-162.
No
sale of real estate under powers contained in mortgages, deeds, or other lien
contracts shall be valid unless the sale shall be advertised and conducted at
the time and place and in the usual manner of the sheriff´s sales in the
county in which such real estate or a part thereof is located and unless notice
of the sale shall have been given as required by Code Section 44-14-162.2. If
the advertisement contains the street address, city, and ZIP Code of the
property, such information shall be clearly set out in bold type. In addition to
any other matter required to be included in the advertisement of the sale, if
the property encumbered by the mortgage, security deed, or lien contract has
been transferred or conveyed by the original debtor to a new owner and an
assumption by the new owner of the debt secured by said mortgage, security deed,
or lien contract has been approved in writing by the secured creditor, then the
advertisement should also include a recital of the fact of such transfer or
conveyance and the name of the new owner, as long as information regarding any
such assumption is readily discernable by the foreclosing creditor. Failure to
include such a recital in the advertisement, however, shall not invalidate an
otherwise valid foreclosure sale.