foreclosure sale
51Installment sale in the United States — In United States income tax law, an installment sale is generally a disposition of property where at least 1 payment is to be received after the close of the taxable year in which the disposition occurs. [usc|26|453(b)(1).] The term installment… …
52strict 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… …
53statutory 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 …
54Forced sale — Property law Part of t …
55public sale — A sale made in pursuance of a notice, by auction or sheriff. See U.C.C. No. 2 706. See also judicial sale, above; sheriff s sale tax sale, below. + public sale Sale at auction of property upon notice to public of such. May result from e.g. tax… …
56forced sale — A sale other than at the will and pleasure of the owner. An execution sale; a sale on foreclosure; a sale made under the authority of any judicial proceeding at law or in equity which seeks to appropriate the property to the payment of debts,… …
57Conditional sale — A conditional sale is a term used to describe a real estate transaction where the parties have set conditions. A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property …
58confirmation of sale — The formal approval of our executor s or administrator s sale of properly of the estate of his decedent by the probate court, which, in some jurisdictions is made a condition precedent to the passing of a valid title to the property. Norton v… …
59Power Of Sale — A clause written into a mortgage authorizing the mortgagee (lender) to sell the property in the event of default, in order to repay the mortgage debt. As a mortgage term, power of sale is equivalent to the term foreclosure. The power of sale is… …
60Tax Lien Foreclosure — The sale of a property resulting from the property owner s failure to pay tax liabilities. A tax lien foreclosure occurs when the property owner has not paid the required taxes, including property taxes and federal and state income taxes. A… …
