Foreclosure - Law Dictionary Search Results
Equity of redemption
a sale of the mortgaged property by the mortgagee under a power of sale; (3) a decree for foreclosure by the Court; (4) lapse of time (twelve years) under the (English) Real Property Limitation Act, 1874, ss.
reinstatement period
reinstatement period a phase of the foreclosure process where the homeowner has an opportunity to stop the foreclosure by paying money that is owed to
Merger
as between equal estate of freehold. Under s. 88 of the (English) Law of Property Act, 1925, a foreclosure by a mortgagee will merge the mortgage term into and vest the fee simple in the mortgagee subject
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sale
a sale of property ordered by a court in order to satisfy a creditor's judgment against a debtor foreclosure sale : a sale of property upon default of a mortgage to satisfy the debt judicial sale :
Under-lease
order to save his security from forfeiture under the proviso for re-entry in the lease. As to realization, foreclosure, and retention by mortgagees under the Statute of Limitations, see s. 89 of the Law of Property Act,
Step in aid of execution of the decree
parties with diametrically opposite avowed objects one (namely, the appellant) to execute and reap the fruit of the foreclosure decree and the other (namely, the respondent, judgment-debtor's son) seeking the assistance of the court to completely nullity
Redeem
redemption in (real property) by payment in full of a mortgage debt after default but prior to a foreclosure becoming effective, Bowery Sav Bank v. Harbert Offset Corp., 558 NYS 2d 821 (1990).
Originating summons
the whole estate or trust; for settling questions between vendors and purchasers (see VENDOR AND PURCHASER SUMMONS); for foreclosure or redemption of mortgages; for determining questions of construction of a written instrument, and for numerous other purposes;
Equitable mortgage
a mort-gage, the mortgagee might file a bill or claim in Equity, either for a legal mortgage, a foreclosure and conveyance, or a sale; and may now bring an action for the same purpose in the Chancery
Chancery
administration of estates of deceased persons, dissolutions of partnerships, or taking of partnership or other accounts; redemption and foreclosure of mortgages, raising of portions or other charges on land; sale and distribution of proceeds of property subject
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