Foreclosures in Massachusetts are a little odd in that there is an entry and possession AND a deed under power of sale by the mortgagee (not a sheriff's sale). It's kind of a belt & suspenders kind of thing.
In this case all the foreclosure docs were perfectly fine - my issue was with the wording on the foreclosure deed itself. Normally the language would be the same as any other deed's phraseology. I believe that it should have read: A, holder of a mortgage from B to A Bank conveys the premises described in said mortgage... Instead the f/d read something along the lines of A, holder of a mortgage from B to A Bank conveys "development rights" which I don't think is sufficient to transfer a fee simple interest in the land and buildings described in the mortgage.
If that deed was incorrect and then a nullity, with no actual conveyance of the fee simple interest, then the property would remain in the original developer subject to the mortgage; with an entry & posn ripening in 3 years.
It's that 3 year period that I was concerned with. If, during that time period, the original developer filed for bankruptcy, would the property then be subject to bankruptcy court, given that the foreclosure deed failed to convey the property to the new owner
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