foreclosure sale
11foreclosure — /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 …
12Foreclosure Action — The legal proceedings initiated by a lender in the case of mortgage default. When a borrower fails to make mortgage payments or otherwise fails to fulfill any of the obligations set forth in the mortgage agreement, the lender can enforce its… …
13sale — A contract between two parties, called, respectively, the seller (or vendor) and the buyer (or purchaser), by which the former, in consideration of the payment or promise of payment of a certain price in money, transfers to the latter the title… …
14foreclosure — [fôr klō′zhər] n. the legal procedure for satisfying claims against a mortgagor in default who has not redeemed the mortgage: satisfaction may be obtained from the proceeds of a forced sale of the property …
15sale, forced — n. A sale made without the owner’s consent, ordered and administered by the court as part of a proceeding, such as foreclosure. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …
16foreclosure — 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… …
17foreclosure — /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… …
18judicial sale — Sale conducted under a judgment, order, or supervision of a court as in a sale under a petition for partition of real estate or an execution or a foreclosure sale. One which must be based upon an order or a decree of a court directing the sale.… …
19judicial sale — Sale conducted under a judgment, order, or supervision of a court as in a sale under a petition for partition of real estate or an execution or a foreclosure sale. One which must be based upon an order or a decree of a court directing the sale.… …
20Foreclosure 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… …
