§3713 Transfer of Title and Possession

Summary

The foreclosure commissioner must give the deed to the buyer and collect any remaining sale money exactly as the sale notice says. The deed transfers whatever rights in the property the Secretary, the commissioner, the borrower, or people under them had when the mortgage was made, plus any rights they got up to the hour of the sale. No extra court action is needed to make that transfer valid. The buyer can take possession when title passes, but the deed is subject to any older claims on the property and to any residential lease that still runs, up to the lease’s remaining time or one year, whichever is shorter. Anyone staying after that becomes a tenant at sufferance. After the foreclosure sale, the borrower and others have no right to redeem the property or regain possession. If the property is conveyed to the Secretary, no tax may be charged on the commissioner’s deed—either on the deed itself or on the right to transfer title—and failing to collect such a tax cannot be used to refuse recording, ignore notice from the record, or stop enforcement in any state or federal court.