2011 US Code
Title 12 - Banks and Banking
Chapter 38 - MULTIFAMILY MORTGAGE FORECLOSURE (§§ 3701 - 3717)
Section 3711 - Foreclosure costs
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 38 - MULTIFAMILY MORTGAGE FORECLOSURE Sec. 3711 - Foreclosure costs |
| Contains | section 3711 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 97-35, title III, §369C, Aug. 13, 1981, 95 Stat. 429. |
| Statutes at Large Reference | 95 Stat. 429 |
| Public Law Reference | Public Law 97-35 |
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The following foreclosure costs shall be paid from the sale proceeds prior to satisfaction of any other claim to such sale proceeds:
(1) necessary advertising costs and postage incurred in giving notice pursuant to sections 3708 and 3710 of this title;
(2) mileage for posting notices and for the foreclosure commissioner's attendance at the sale at the rate provided in section 1921 of title 28 for mileage by the most reasonable road distance;
(3) reasonable and necessary costs actually incurred in connection with any necessary search of title and lien records;
(4) necessary out-of-pocket costs incurred by the foreclosure commissioner to record documents; and
(5) a commission for the foreclosure commissioner for the conduct of the foreclosure to the extent authorized by regulations issued by the Secretary.
(Pub. L. 97–35, title III, §369C, Aug. 13, 1981, 95 Stat. 429.)
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