Mississippi § 35-7-35 - Cancellation; foreclosure.
Full text of Mississippi Mississippi Code of 1972 Annotated § 35-7-35 — Cancellation; foreclosure., with citation guidance and answers to common questions.
§ 35-7-35. Cancellation; foreclosure.
In event of a failure of a purchaser to comply with any of the terms of his contract, or the trust deed, provided for in this chapter, the board shall have the right at its option to cancel such contract or to cause a foreclosure thereof to be made under its deed of trust. Failure of the board to exercise any option to foreclose or to exercise any other rights under the trust deed held by it for any default on the part of the purchaser or mortgagor, shall not be deemed a waiver of its rights then or at any future time to exercise such right or rights. In the event of any sale under foreclosure as herein provided for, the board may appear at such sale and bid on said property, and may become the purchaser at such sale. Property foreclosed, repossessed or otherwise reverted to the board may be conveyed to the Veterans’ Administration in the case of VA Guaranty, resold inclusive of refinancing, or otherwise disposed of to the highest financial advantage in the best judgment of the board.
Frequently Asked Questions About Mississippi § 35-7-35
What does Mississippi Code of 1972 Annotated § 35-7-35 cover?
Section 35-7-35 ("Cancellation; foreclosure.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 35-7-35?
A common citation format is "Mississippi Code of 1972 Annotated § 35-7-35" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 35-7-35 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.