MLchartDataset catalogue

Non-judicial foreclosure

Term · Law · MLC-T-LAW-003446

The process of selling a property to satisfy a debt without court supervision, as permitted by a power-of-sale clause in a mortgage or deed of trust. This method is faster and less expensive than judicial foreclosure. It requires strict adherence to statutory notice and sale procedures, which vary by state.

Table 1. Record
IdentifierMLC-T-LAW-003446
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003446",
  "term": "Non-judicial foreclosure",
  "field": "Law",
  "definition": "The process of selling a property to satisfy a debt without court supervision, as permitted by a power-of-sale clause in a mortgage or deed of trust. This method is faster and less expensive than judicial foreclosure. It requires strict adherence to statutory notice and sale procedures, which vary by state.",
  "url": "https://mlchart.com/terminology/law/non-judicial-foreclosure/"
}

Record 3,433 of 5,445 in Law terminology (MLC-0107). Request the full dataset.