strict foreclosure — The foreclosure of a mortgage without a sale of the mortgaged property, being accomplished by a suit in equity and a decree rendered therein extinguishing the mortgagor s equity of redemption, such decree calling for payment of the debt secured… … Ballentine's law dictionary
strict foreclosure — noun : a proceeding in equity that determines by decree the amount due on a mortgage, fixes a time within which the mortgagor debtor must pay it, and vests in case of his default absolute title in the mortgagee forever free of any right of the… … Useful english 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 — 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 — /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
foreclosure — /fawr kloh zheuhr, fohr /, n. Law. the act of foreclosing a mortgage or pledge. [1720 30; FORECLOSE + URE] * * * Legal proceeding by which a borrower s rights to a mortgaged property may be extinguished if the borrower fails to live up to the… … Universalium
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. Merriam Webster.… … Law dictionary
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
judicial foreclosure — A foreclosure in which the foreclosing party files a lawsuit in the county where the real estate is located, seeking a court judgment allowing the property to be sold at a foreclosure sale because the owner has defaulted on mortgage payments. A… … Law dictionary
