equitable foreclosure

A foreclosure method in which the court orders the property sold, and the proceeds are applied first to pay the costs of the suit and sale and then to the mortgage debt.

• Any surplus is paid to the mortgagor. [Cases: Mortgages 386. C.J.S. Mortgages § 693.]

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词条贡献者

资深译员Michael，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与商业地产租赁有关的法律文件。