In mortgage enforcement in Nova Scotia, what does the power of sale authorize?

• A. The lender to sue for any deficiency
• B. The lender to foreclose and take the property immediately
• C. The lender to sell the property to recover defaulted mortgage funds, generally following a legal process
• D. The lender to seize personal assets of the borrower

Answer: (C)

Power of sale allows the lender to sell the property that secures the loan after the borrower defaults in order to recover the money owed. The sale is carried out through a legally prescribed process—notice, advertising, and a commercially reasonable sale—without requiring the lender to go through a full court foreclosure. This remedy targets the secured asset, not the borrower's personal assets, and the sale proceeds are used first to cover costs and the debt; any surplus goes to the borrower, while a shortfall may leave the borrower liable for the remaining amount. So, the power of sale authorizes selling the property to recover defaulted mortgage funds, generally following a legal process.