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

双语律师Nanda，国际知名法学院国际法专业，擅长翻译各类与生物医学诉讼相关的法律文件。