foreclosure by action and sale

foreclosure by action and sale
A suit to obtain a decree of foreclosure and a sale of the mortgaged premises in accordance with that decree, the proceeds to be applied, first to the payment of the costs of suit, the mortgage debt, and interest thereon, second to junior encumbrancers, and third to the owner of the premises. McMillan v Richards, 9 Cal 365, 411.

Ballentine's law dictionary. . 1998.

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