Judicial foreclosure definition
Examples of Judicial foreclosure in a sentence
Foreclosed junior lienholders do not have a right to redeem the Property after a Judicial foreclosure sale.
Judicial foreclosure and any other remedy that might adversely impact any Interest or any property, assets, or interests now or hereafter owned or held by the Company and any additional property contributed to or acquired by the Company, whether real or personal, as well as improvements developed thereon, are expressly prohibited and are unenforceable in all respects.
Upon any default on the part of Landlord, Tenant will give notice by registered or certified mail to any Mortgagee who has provided Tenant with notice of its interest together with an address for receiving notice, and shall offer such Mortgagee a reasonable opportunity to cure the default (which in no event shall be less than sixty (60) days), including time to obtain possession of the Premises by power of sale or a Judicial foreclosure, if such should prove necessary, to effect a cure.
PARTY In the event the interest of Landlord in the land and buildings in which the leased Premises are located (whether such interest of Landlord is a fee title interest or a leasehold interest) is encumbered by deed of trust, and such interest is acquired by the lender or any third party through Judicial foreclosure or by exercise of a power of sale at private trustee's foreclosure sale.
In the event of a Judicial foreclosure, the court shall direct a sale of the Real Estate either with or without appraisement, as Mortgagee may elect, said election to be exercised at or prior to the time judgment is rendered.