MLchartDataset catalogue

Judicial foreclosure

Term · Law · MLC-T-LAW-002847

A type of foreclosure proceeding that requires court intervention to sell a property when a borrower defaults on a mortgage. The lender files a lawsuit, and the court oversees the sale process, confirming the sale and distributing the proceeds. This method is common in states where non-judicial foreclosure is not permitted or is less common.

Table 1. Record
IdentifierMLC-T-LAW-002847
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002847",
  "term": "Judicial foreclosure",
  "field": "Law",
  "definition": "A type of foreclosure proceeding that requires court intervention to sell a property when a borrower defaults on a mortgage. The lender files a lawsuit, and the court oversees the sale process, confirming the sale and distributing the proceeds. This method is common in states where non-judicial foreclosure is not permitted or is less common.",
  "url": "https://mlchart.com/terminology/law/judicial-foreclosure/"
}

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