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Related legal terms and Law definition:

judicial foreclosure
A judicial foreclosure is a court proceeding that starts when a lender (the bank) files a lawsuit against the defaulted mortgagor to establish the amount of default and the right of a lender to sell the house/apartment and satisfy the outstanding debt. After a lawsuit has been filed, the lender files a "lis pendens" (lawsuit pending notice) with the county … Full Definition »
Commercial Real Estate >> Real Estate Law