Foreclosure Sale
Definition of "Foreclosure sale"
A legal procedure to sell a mortgage property to the highest bidder in order to satisfy a mortgage claim from a mortgagee against the value o the property. A foreclosure sale can occur from a judicial sale where a court orders the sale after hearing a foreclosure petition filed against a mortgagor by a mortgagee. A foreclosure by power of sale contained in a mortgage allows a mortgagee to have a foreclosure sale, after providing proper legal notice to a defaulting mortgagor, without the end for judicial recourse.
Popular Real Estate Terms
Property that is zoned for industrial use, including manufacturing, research and development purposes, factory office and warehouse space, and industrial parks. ...
The term foraging comes from the old germanic language, which passed through Old French “fuerre” and “fourrage” and it means the search for wild food resources. ...
Removal of a tenant from a portion of a rented or leased premise. ...
Flaw in an otherwise proper title. A title obtained through error or fraud without proper signature or consideration or other improper action. A defective title is null and void having no ...
yard lumber about 2 inches by 8 inches. ...
The definition of the price-to-rent ratio is very important for real estate investors. This ratio is a measurement for the affordability of a particular rental property and tells investors ...
Standard days when an organization is open and conducts business. Business days exclude weekends and holidays. ...
The person identified to receive the benefit of property held in trust. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
Have a question or comment?
We're here to help.