Definitions for "judicial foreclosure"
Related Terms:
Non-judicial foreclosure, Strict foreclosure, Nonjudicial foreclosure, Defaulter, Attachment, Judicial lien, Judicial sale, Power of sale, Sheriff's sale, County court judgment, Judgment lien, Judgments, Judgement, Writ of execution, Notice of default, Charging order, Sheriff's deed, Judgment creditor, Nod, Judgment, County court judgement, Ccj, Judgment debtor, Satisfaction of judgment, Foreclosure, Fieri facias, Warrant of execution, Judgment, Relief from stay, Default notice, Redemption, Judgment, Writ of attachment, Abstract of judgment, Deficiency judgment, Sheriffs deed, Confession of judgment, Adversary proceeding, Deed in lieu of foreclosure, Repossess, Garnish, Deed-in-lieu of foreclosure, Judgement lien, Pre-petition, Execution, Voluntary conveyance, Acquittance, Foreclosure sale, Automatic stay, Money judgment
A foreclosure which results from a court action rather than from the power of...
a means by which a mortgagee's (borrower's) right to redeem is taken away through a court-supervised sale of real property. definition of judicial foreclosure defined definition of what it means to foreclose on a property defined
A means of selling property through a court procedure to satisfy a lien.
Foreclosure through court action rather than by a power of sale. Judicial foreclosure is sometimes necessary to remove certain tax liens.
A foreclosure filed as a formal lawsuit in a state court. A typical procedure involves filing a complaint, personal notice to the interested parties, entry of a judgment, sale of the property, and confirmation of the sale by the Court. However, the process varies from state to state and is sometimes combined with a non-judicial foreclosure process. (see related definition)
Having a defaulted debtor's property sold at a price the court approves. This can result in a deficiency judgment against the Payor if the property value is less than the debt.
a lawsuit and is best handled by a lawyer
Type of foreclosure in which the lender must initiate formal court proceedings to enforce the lien against the mortgaged property.
A foreclosure process which is executed via a court action.
In many states, in the case of default by the borrower, the lender must take the borrower to court and sue for foreclosure. In Georgia, we are a non-judicial foreclosure state and this is not required - simplifying the foreclosure process for the lender.
type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court.
A court-ordered foreclosure. The lender must first file and win a lawsuit to foreclose.
A foreclosure that's processed via a court action. Late Charge- A fee imposed on a borrower when a payment is not made on time.
Also called foreclosure by sale, this type of foreclosure uses the courts to take the title of the collateral property away from the mortgagor. The two most common types of judicial foreclosures are judicial sales and strict foreclosures. For more information, see the "Everything You Want To Know About Foreclosures" article in the "Real Estate In-Depth" section.
A court supervised foreclosure process used in states using a mortgage or security deed.
A method of foreclosing on real property by means of a court-supervised sale. In a judicial foreclosure, there is an appraisal, after which the court determines an upset price below which no bids to purchase will be accepted. ( See nonjudicial foreclosure , strict foreclosure )
An enforcement action by a lender, the act of selling the property to recover the mortgage debt after obtaining judgment of a court.
A type of foreclosure proceeding conducted as a civil suit in a court of law. No terms listed.
A court procedure used by lenders to secure clear title to a property under a defaulted real estate loan.
A procedure to handle foreclosure proceedings as civil matters.
A Foreclosure that is processed by a court action.
A foreclosure action that is executed by the court.
Foreclosure process that must be carried out in the courts. Not used in every state.
Property of a defaulted borrower is sold under court order and the amount received is ratified by the Court.
A court judgment ordering that a property be sold to repay a debt.
A type of foreclosure proceeding used in some states that is handled as a civil lawsuit where the court confirms the sales price for the property and the distribution of the sale proceeds.
A way to handle foreclosure proceedings as civil matters.