STATE FORECLOSURE PROCEDURES - MASSACHUSETTS
Thursday, August 12
MASSACHUSETTSConveyance is by warranty deed in the western part of the state and by quitclaim deed in the eastern part. Mortgages with private power of sale are the customary security instruments. Creditors forced to foreclose generally take advantage of the private power of sale, but they may fo...
STATE FORECLOSURE PROCEDURES - MARYLAND
Thursday, August 12
MARYLANDConveyance is by grant deed, and the deed must state the consideration involved. Although mortgages are common in some areas, deeds of trust are more prevalent as security instruments. Security instruments may include a private power of sale, so it naturally is the foreclosure method of c...
STATE FORECLOSURE PROCEDURES - MAINE
Thursday, August 12
MAINEConveyance is by warranty or quitclaim deed. Mortgages are the security instruments. Foreclosures may be initiated by any of the following: an act of law for possession; entering into possession and holding the premises by written consent of the mortgagor; entering peaceably, openly, and uno...
STATE FORECLOSURE PROCEDURES - LOUISIANA
Thursday, August 12
LOUISIANAConveyance is by warranty deed or by act of sale. Mortgages are the security instruments generally used in commercial transactions, while vendors liens and seller’s privileges are used in other purchase money situations. Foreclosures are swift (60 days) and sure (no right of redemption)....
STATE FORECLOSURE PROCEDURES - KENTUCKY
Thursday, August 12
KENTUCKYConveyance is by grant deed or by bargain and sale deed. Deeds must show the name of the preparer, the amount of the total transaction, and the recording reference by which the grantor obtained title. Mortgages are the principal security instruments because deeds of trust offer no power ...
STATE FORECLOSURE PROCEDURES - KANSAS
Thursday, August 12
KANSASBecause many land titles stem from Indian origins, deeds involving Indians as parties to a transaction go before the Indian Commission for approval. Conveyance is by warranty deed. Mortgages are the customary security instruments. Judicial foreclosures, the only ones allowed, take about 6 m...