(a) Among the lawful expenses of a sale under a mortgage or deed of trust is to be allowed a commission on the proceeds of sale to the mortgagee or trustee. Where the mortgage or deed of trust does not fix the rate of commission the mortgagee or trustee shall be allowed a commission of 5% on the first $500 and 3% on the balance of the purchase money actually paid by the purchaser at any sale, and 1/2% on the amount of the purchase money not paid into the hands of the mortgagee or trustee, but credited on the debt, when the creditor becomes a purchaser.
(b) When the property is lawfully advertised for sale under a mortgage or deed of trust, and the sale is prevented by payment of the debt or is suspended or postponed by arrangement between the parties interested, the trustee shall be entitled to a commission of 1% on the amount of the debt secured in addition to the expenses incurred by him, and he shall be entitled to such allowance as often as such advertisement shall be made necessary by the default of the debtor; provided, that if a sale shall actually take place under any such advertisement, he shall not be entitled to more than 1 such allowance in addition to his commission on the proceeds of an actual sale.
(Mar. 3, 1901, 31 Stat. 1274, ch. 854, § 545; Apr. 3, 2001, D.C. Law 13-263,§ 1601, 48 DCR 991; May 7, 2002, D.C. Law 14-132, § 602(b), 49 DCR 2551.)
1981 Ed., § 45-718.
1973 Ed., § 45-618.
D.C. Law 14-132 revived this section as of November 6, 2001. This section had been previously repealed by D.C. Law 13-263, § 1601.
Section 2 of Act 14-188, the “Protections from Predatory Lending and Mortgage Foreclosure Improvements Emergency Amendment Act”, deemed approved Nov. 27, 2001, without the signature of the Mayor, provided that D.C. Law 13-263 shall not apply beginning November 6, 2001, through March 6, 2002.
For temporary (90 day) revival of section, see § 403(b) of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
For temporary (225 day) amendment of section, see § 2 of Protections from Predatory Lending and Mortgage Foreclosure Improvements Temporary Amendment Act of 2001 (D.C. Law 14-86, March 19, 2002, law notification 49 DCR 2991).
Structure District of Columbia Code
Chapter 8 - Mortgages and Deeds of Trust
§ 42–801. Execution, acknowledgment, and recordation in same manner as deeds
§ 42–803. Estate of mortgagee or trustee; conveyance thereof
§ 42–804. Survival of mortgagee’s or trustee’s title
§ 42–805. While action pending, money due payable to mortgagee or court; effect thereof
§ 42–807. Limitations upon right of redemption in §§ 42-805 and 42-806
§ 42–808. Conveyance or assurance by infant following court order
§ 42–809. Conveyance or assurance by infant trustee or mortgagee under court order
§ 42–810. Mortgagee may redeem prior mortgage; prior mortgage may not bar
§ 42–812. Equity practice followed where answer sets up defense against foreclosure
§ 42–813. Replacement of deceased, appointed trustee
§ 42–814. Petition for new trustee; causes; procedure; written agreement of parties
§ 42–815.01. Right to cure residential mortgage foreclosure default
§ 42–815.02. Foreclosure mediation
§ 42–815.03. Establishment of Foreclosure Mediation Fund
§ 42–815.05. Requirement for deed before action against current occupant of foreclosed property
§ 42–817. Sale of property — Amount creditor to pay if purchaser
§ 42–818. Commission to mortgagee or trustee; rates; when advertised sale not held
§ 42–818.01. Tracking addresses
§ 42–818.02. Procedures for release of deed of trust
§ 42–820. Conveyance by and for individuals with mental disabilities following court order