§667-23 - Recordation of notice of default.
[§667-23] Recordation of notice of default. Before the deadline date in the notice of default, the notice of default in a recordable form shall be recorded in a manner similar to recordation of notices of pendency of action under section 501- 151 or section 634-51, or both, as applicable. The recorded notice of default shall have the same effect as a notice of pendency of action. From and after the recordation of the notice of default, any person who becomes a purchaser or encumbrancer of the mortgaged property shall be deemed to have constructive notice of the power of sale foreclosure and shall be bound by the foreclosure. [L 1998, c 122, pt of §1]