The right of the mortgagee,given by a statute or the terms of the mortgage,to sell the property upon default is called

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The right of the mortgagee to sell the property upon default is called a power of sale, which is a common provision in American mortgages. This allows the mortgagee to sell the property without having to go through a lengthy court process, which can be faster and less costly.

The Right of the Mortgagee,given by a Statute or the Terms