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

译员Matthew，毕业于英国顶尖的高级翻译学院，专注翻译各种与争议解决有关的法律文件。