statutory foreclosure
statutory foreclosure n: a foreclosure in which a mortgagee or trustee executes a power of sale given in a mortgage or deed of trust and does so in accordance with statutory provisions compare strict foreclosure

Merriam-Webster’s Dictionary of Law. . 1996.

Look at other dictionaries:

  • statutory foreclosure — noun : a foreclosure that is instituted by a suit in equity and involves the satisfaction of the debt to the extent made possible by a sale of the mortgaged property distinguished from strict foreclosure …   Useful english dictionary

  • statutory foreclosure — The foreclosure of alien or mortgage without suit, but by notice and sale pursuant to statute …   Ballentine's law dictionary

  • foreclosure — fore·clos·ure /fōr klō zhər/ n 1: a legal proceeding that bars or extinguishes a mortgagor s equity of redemption in mortgaged real property see also deficiency judgment at judgment, redeem …   Law dictionary

  • Foreclosure investment — refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate, foreclosure is the termination of the [equity] of redemption [Equity of redemption… …   Wikipedia

  • statutory — Relating to a statute; created or defined by a statute; required by a statute; conforming to a statute @ statutory bond One that either literally or substantially meets requirements of statute. Southern Surety Co. v. United States Cast Iron Pipe… …   Black's law dictionary

  • foreclosure — /forklowzhsr/ To shut out, to bar, to destroy an equity of redemption. Anderson v. Barr, 178 Okl. 508, 62 P.2d 1242, 1246. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. The process by which a …   Black's law dictionary

  • foreclosure — /forklowzhsr/ To shut out, to bar, to destroy an equity of redemption. Anderson v. Barr, 178 Okl. 508, 62 P.2d 1242, 1246. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. The process by which a …   Black's law dictionary

  • statutory redemption — The right granted by legislation to a mortgagor, one who pledges property as security for a debt, as well as to certain others, to recover the mortgaged property after a foreclosure sale. Dictionary from West s Encyclopedia of American Law. 2005 …   Law dictionary

  • Foreclosure — For Lacan s psychoanalytic process, see Foreclosure (psychoanalysis). House in Salinas, California under foreclosure, following the popping of the U.S. real estate bubble. Foreclosure is the legal process by which a mortgage lender (mortgagee),… …   Wikipedia

  • Foreclosure Filing — The initial legal process of selling a mortgaged property that is in default. When a borrower defaults in making mortgage payments or otherwise fails to fulfill the terms of the mortgage agreement, the lender can enforce its rights through the… …   Investment dictionary

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