Edward Terry Sanford

“ Its effect is no more than if it conferred upon the holder of the secured debt a statutory power of sale, which may be treated as equivalent, in so far as the constitutional question is concerned, to an express power of sale in a mortgage or trust deed.
Plainly the right of one who purchases property subject to a security deed, with a statutory power of sale which must be read into the deed, is no greater than that of one who purchases property subject to a mortgage or trust deed, with a contractual power of sale. ”

“ In the absence of a specific provision to that effect, the holder of a mortgage or trust deed with power of sale, is not required to give notice of the exercise of the power to a subsequent purchaser or incumbrancer ”

“ College, 54 W. Va. 32, 49, 46 S. E. 253; Grove v. Loan Co., 17 N. D. 352, 358, 116 N. W. 345, 138 Am. St. Rep. 707;, hardwicke v. Hamilton, 121 Mo. 465, 473, 26 S. W. 342; Ostrander v. Hart (N. Y.) 30 N. E. 504. ”