Foreclose - Law Dictionary Search Results
Home Dictionary Name: forecloseforeclose
foreclose [Anglo-French forclos, past participle of foreclore to preclude, prevent, from fors outside + clore to close] vt : to subject to foreclosure proceedings vi : to foreclose a mortgage or other security interest compare repossess, seize ...
Mortgage
Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...
attach
attach [Anglo-French attacher to lodge (an action in court), seize (a person or property) by legal authority, from Old French atachier to fasten, fix, alteration of estachier, from estache stake] vt 1 : to obtain a court order against (property of another person) that directs an officer of the court (as a sheriff) to seize or take control of the property compare garnish, levy NOTE: A plaintiff may attach a defendant's property as a way of obtaining jurisdiction for the purpose of bringing a lawsuit or to prevent the defendant from getting rid of property that may be needed to pay a judgment to the plaintiff. 2 : to join or make a part of [affidavits ed to the suit "Rosalind Resnick"] 3 : to create a security interest in (property) and so acquire the right to foreclose on or otherwise deal with property for payment of a debt and to exercise one's rights in the property against third parties see also security interest at interest compare perfect vi : to become effective: as a : ...
credit related expenses
credit related expenses foreclosed property expenses plus the provision for losses. Source: U.S. Department of Housing and Urban Development ...
credit related losses
credit related losses foreclosed property expenses combined with charge-offs. Source: U.S. Department of Housing and Urban Development ...
interest
interest [probably alteration of earlier interesse, from Anglo-French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter- between, among + esse to be] 1 : a right, title, claim, or share in property Article Nine security interest : security interest in this entry beneficial interest : the right to the use and benefit of property [a beneficial interest in the trust] contingent interest : a future interest whose vesting is dependent upon the occurrence or nonoccurrence of a future event compare vested interest in this entry controlling interest : sufficient stock ownership in a corporation to exert control over policy equitable interest : an interest (as a beneficial interest) that is held by virtue of equitable title or that may be claimed on the ground of equitable relief [claimed an equitable interest in the debtor's assets] executory interest : a future interest other than a remainder or reversion that may take effect upon the divesting...
reduce
reduce re·duced re·duc·ing 1 : to make smaller 2 a : to convert (a chose in action) into a chose in possession [enforcement action sought to to possession her property interest in the…determination of money damages "Haynes v. Contat, 643 N.E.2d 941 (1994)"] b : to convert by enforcement through litigation [may his claim to judgment, foreclose or otherwise enforce the security interest "Uniform Commercial Code"] re·duc·ibil·i·ty [-dü-sə-bi-lə-tē, -dyü-] n re·duc·ible [-dü-sə-bəl, -dyü-] adj re·duc·ibly adv re·duc·tion [ri-dək-shən] n reduce to practice : to cause to undergo reduction to practice ...
repossess
repossess : to regain possession of ;esp : to take possession of again by judicial process or self-help upon default of the payment of installments due compare foreclose, seize re·pos·ses·sor [-ze-sər] n ...
seize
seize seized seiz·ing 1 or seise : to put in possession of property or vest with the right of possession or succession [stand seized of land] 2 : to take possession or custody of (property) esp. by lawful authority [ drugs as evidence] [the judgment of criminal forfeiture shall authorize the Attorney General to the interest or property subject to forfeiture "Federal Rules of Criminal Procedure Rule 32(b)(2)"] [can the goods subject to his security interest and…keep them in satisfaction of the debt "J. J. White and R. S. Summers"] compare foreclose, repossess 3 : to detain (a person) in such circumstances as would lead a reasonable person to believe that he or she was not free to leave [determined that the defendant was seized when surrounded by police officers] seiz·able adj ...
Foreclose
To shut up or out to preclude to stop to prevent to bar to exclude...
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