A foreclosure which results from a court action rather than from the power of sale given to a trustee. Judicial foreclosures occur when a trust deed or mortgage deed does not have a power of sale clause, thus compelling the lender to take the borrower to court. This is in contrast to a non-judicial foreclosure, in which a foreclosure can be completed outside the court system.
Related information about judicial foreclosure:
- Judicial Foreclosure Definition | Investopedia
Foreclosure proceedings in which a mortgage lacks the power of sale clause. In such an instance, many states require the foreclosure to be processed through ...
- Judicial foreclosure - Legal Dictionary - The Free Dictionary
judicial foreclosure n. a judgment by a court in favor of foreclosure of a mortgage or deed of trust, which orders that the real property which secured the debt be ...
- The difference between judicial and non-judicial foreclosures
It is important to note that each non-judicial foreclosure state has different procedures. Some do not require a Notice of Default, but start with a Notice of Sale.
- The Process of Judicial Foreclosure | Home Guides | SF Gate
A judicial foreclosure requires the lender to first file and win a lawsuit for the right to foreclose. As such, the judicial foreclosure process lasts much longer than a ...
- Foreclosure - Wikipedia, the free encyclopedia
Foreclosure by judicial sale, more commonly known as judicial foreclosure, which is available in every state (and required in many), involves the sale of the ...
- Foreclosure Laws and Procedures By State
Learn about foreclosure laws and procedures by state and find out which states allow judicial and non-judicial foreclosures.
- Non-Judicial Foreclosure Process | ForeclosureRadar
In non-judicial foreclosure states, the right to foreclose and sell the property actually lies with a 3rd party, known as the trustee; who has a fiduciary responsibility ...
- Judicial Versus Non-Judicial Foreclosure Chart and Description
A judicial foreclosure is a court proceeding that begins when the lender files a complaint and records a notice in the public land records announcing a claim on ...