judicial foreclosure

A costly and time-consuming foreclosure method by which the mortgaged property is sold through a court proceeding requiring many standard legal steps such as the filing of a complaint, service of process, notice, and a hearing.

• Judicial foreclosure is available in all jurisdictions and is the exclusive or most common method of foreclosure in at least 20 states. [Cases: Mortgages 380. C.J.S. Mortgages §§ 490–491, 495, 690–691, 695, 697.]

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词条贡献者

译者Gloria，毕业于法国顶尖的高级翻译学院，擅长翻译各种与企业设立相关的法律文件。