MLchartDataset catalogue

Foreclosure sale

Term · Law · MLC-T-LAW-002171

The public auction or private sale of a property that has been repossessed by a lender due to the borrower's default on a mortgage. The proceeds from this sale are used to satisfy the outstanding debt. These sales are conducted according to specific legal requirements, which vary depending on whether the foreclosure is judicial or non-judicial.

Table 1. Record
IdentifierMLC-T-LAW-002171
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002171",
  "term": "Foreclosure sale",
  "field": "Law",
  "definition": "The public auction or private sale of a property that has been repossessed by a lender due to the borrower's default on a mortgage. The proceeds from this sale are used to satisfy the outstanding debt. These sales are conducted according to specific legal requirements, which vary depending on whether the foreclosure is judicial or non-judicial.",
  "url": "https://mlchart.com/terminology/law/foreclosure-sale/"
}

Record 2,080 of 5,441 in Law terminology (MLC-0107). Request the full dataset.