Nonjudicial Foreclosure Sale
Definition of "Nonjudicial foreclosure sale"
Foreclosure sale enable in those states permitting the use of a power of sale clause to be inserted into a mortgage or deed of trust empowering the mortgagee to advertise and sell a property at a foreclosure sale upon the mortgagor's payment default. A nonjudicial foreclosure sale enables a foreclosure action without a formal judicial action.
Popular Real Estate Terms
The period when a financial debt, such as a mortgage, must paid. ...
Cash outlays required to maintain an investment position. ...
Significant information that if disclosed would affect an individual's decision. For example, a buyer would probably not enter into a contract with a seller of real property if it was known ...
Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...
Civil rights acts passed by the U.S. Congress includes those of 1866, 1870, 1871, 1875, 1964, and 1968. The first two acts gave blacks the rights to be treated as citizens in legal actions, ...
The definition of front foot is a person or an entity that has an advantage or has the initiative. It could also be used to suggest that someone is taking an offensive position. Based on ...
Lines determined by a government rectangular survey laying out a standard six-mile square area of land. ...
Major lease in a structure that controls subleases. An example is a landlord and attorney entering into a main lease for the third floor offices of building. This lease takes precedence ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
Have a question or comment?
We're here to help.