Foreclosure definition

Foreclosure means the process by which a property, placed as security for a real estate loan, is sold at auction to satisfy the debt if the trustor (borrower) defaults.

Foreclosure means the process culminating in the acquisition of title to a Mortgaged Property in a foreclosure sale or by a deed in lieu of foreclosure or pursuant to any other comparable procedure allowed under Applicable Requirements.

Foreclosure means an action taken by an agency official that effectively precludes the Council from providing comments which the agency official can meaningfully consider prior to the approval of the undertaking.

Examples of Foreclosure in a sentence

• No Leasehold Mortgagee (or Person acquiring the Leasehold Estate pursuant to a Foreclosure Event under a Leasehold Mortgage) shall have any liability beyond its interest in the Lease or the Lease Agreements nor shall Leasehold Mortgagee (or person acquiring the Leasehold Estate pursuant to a Foreclosure Event under a Leasehold Mortgage) be liable under the Lease or the Lease Agreements unless and until such time as it becomes, and then only for so long as it remains, the owner of the Leasehold Estate.

• The Receiver shall be relieved of its obligations with respect to a Shared-Loss Loan upon payment of a Foreclosure Loss amount, or a Short Sale Loss amount with respect to such Single Family Shared-Loss Loan, or upon the sale without FDIC consent of a Single Family Shared-Loss Loan by Assuming Institution to a person or entity that is not an Affiliate.

• No Secured Party or other Person acquiring the Leasehold Estate pursuant to a Foreclosure Event shall have any liability beyond its interest under this Agreement or the Lease or the Lease Agreements nor shall Secured Party or any Person acquiring the Leasehold Estate pursuant to a Foreclosure Event be liable under the Lease or the Lease Agreements unless and until such time as it becomes the owner of the Leasehold Estate.

• Notwithstanding anything to the contrary in the Lease or the Lease Agreements, any Foreclosure Event or any exercise of rights or remedies under the Leasehold Mortgage shall not be deemed to violate the Lease or the Lease Agreements or require the consent of Landlord.

• Landlord recognizes and agrees that Secured Party may acquire directly, or may cause its assignee, nominee, or designee to acquire, the Leasehold Estate through a Foreclosure Event and such party shall enjoy all the rights and protections granted to Secured Party hereunder or to a Leasehold Mortgagee under the Lease or the Lease Agreements with the same force and effect as if such party were Secured Party or the Leasehold Mortgagee itself.

More Definitions of Foreclosure

Foreclosure means possession of a property by a lender on which it has foreclosed on a security interest or the expiration of a lawful redemption period, whichever occurs first.

Foreclosure means a statutory forfeiture or a judicial or nonjudicial foreclosure of a security interest or a deed or other conveyance in lieu of a security interest.

Foreclosure includes any lawful manner of generating proceeds from collateral whether by public auction, by private sale or otherwise;

Foreclosure shall include, without limitation, a power of sale.

Foreclosure. Any foreclosure, the taking of a deed-in-lieu of foreclosure, or the completion of any judicial or non-judicial foreclosure or termination, cancellation or rescission of any such foreclosure of the Mortgages.

Foreclosure means a forfeiture or judicial or non- judicial foreclosure of a mortgage or a deed in lieu thereof.

Foreclosure means a forfeiture or judicial or nonjudicial