nonjudicial foreclosure

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 the instrument or created by a separate instrument; a method of foreclosure infrequent in use but possible under the law of some jurisdictions. 37 Am J1st Mtg § 647.

Ballentine's law dictionary. . 1998.

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