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Concept: foreclosure in the concept vocabulary
| Concept URI | http://www.eionet.europa.eu/gemet/concept/3401 |
|---|---|
| Preferred label | foreclosure |
| Definition | To shut out, to bar, to destroy an equity of redemption. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. The process by which a mortgagor of real or personal property, or other owner of property subject to a lien, is deprived of his interest therein. Procedure by which mortgaged property is sold on default of mortgagor in satisfaction of mortgage debt. In common usage, refers to enforcement of lien, trust deed, or mortgage in any method provided by law. |
| Notation | |
| Status | Valid |
| Status Modified | 2013-12-05 |
| Accepted Date | 2013-12-05 |
| Not Accepted Date | |
| Alternative label | |
| Has broader | |
| Has close match | |
| Source |
European Environment Agency
Kgs. Nytorv 6, DK-1050 Copenhagen K, Denmark