foreclosure of chattel mortgage
- foreclosure of chattel mortgage
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An action to declare judicially the forfeiture for condition broken and to obtain a sale and transfer of title to the subject of the mortgage. 15 Am J2d Chat Mtg § 208. A sale of the property covered by the mortgage, upon a default by the mortgagor, under a power of sale contained in the instrument. 15 Am J2d Chat Mtg § 211.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
chattel mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. chattel mortgage n … Law dictionary
foreclosure by sale — A summary method of foreclosure of a mortgage or deed of trust by sale of the mortgaged premises under a power of sale contained in the mortgage or deed of trust, or even in a separate instrument. 37 Am J1st Mtg § 647. See foreclosure of chattel… … Ballentine's law dictionary
mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… … Law dictionary
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mortgage — /mawr gij/, n., v., mortgaged, mortgaging. n. 1. a conveyance of an interest in property as security for the repayment of money borrowed. 2. the deed by which such a transaction is effected. 3. the rights conferred by it, or the state of the… … Universalium
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
nonjudicial foreclosure — The foreclosure of a chattel mortgage under a power of sale granted to the mortgagee by the terms of the mortgage. 15 Am J2d Chat Mtg § 214. The foreclosure of a mortgage or deed of trust, covering real estate, under a power of sale contained in… … Ballentine's law dictionary
property law — Introduction principles, policies, and rules by which disputes over property are to be resolved and by which property transactions may be structured. What distinguishes property law from other kinds of law is that property law deals with… … Universalium
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