- foreclosure suit
- See foreclosure by action and sale.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
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
suit to extinguish the equity of redemption — index foreclosure Burton s Legal Thesaurus. William C. Burton. 2006 … 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 — A remedy provided by state law for creditors secured by an interest in real property to obtain title to the property under certain conditions. American Banker Glossary Process by which the holder of a mortgage seizes the property of a homeowner… … Financial and business terms
foreclosure mill — n. A law firm that processes foreclosures perfunctorily and without due process. Example Citations: The Florida Attorney General s Office calls these firms foreclosure mills because of the large volume of cases they handle. Critics say the firms… … New words
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… … Ballentine's law dictionary
foreclosure — In the original inception of the term, a suit to extinguish the equity of redemption. A proceeding in a court of justice, conducted according to legal forms, in and by which a mortgagee, or assigns, or successor, or anyone who has by law… … Ballentine's law dictionary
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
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