71-1-232. Deficiency judgment not allowed on foreclosure of purchase price mortgage.
67 words·~1 min read·
/mt/title-71/chapter-1/part-2/71-1-232A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
71-1-232 . Deficiency judgment not allowed on foreclosure of purchase price mortgage. Upon the foreclosure of any mortgage, executed to any vendor of real property or to the vendor's heirs, executors, administrators, or assigns for the balance of the purchase price of the real property, the mortgagee is not entitled to a deficiency judgment on account of the mortgage or note or obligation secured by the mortgage.