Nonjudicial foreclosure definition

Nonjudicial foreclosure means the sale of a lot:
Sample 1Sample 2Sample 3
Nonjudicial foreclosure means the sale of a unit:
Sample 1Sample 2Sample 3
Nonjudicial foreclosure means foreclosure under power of sale.
Sample 1Sample 2Sample 3

Examples of Nonjudicial foreclosure in a sentence

  • Nonjudicial foreclosure shall be commenced by the Association in compliance with California law.

  • Non-judicial foreclosure, which ends with the private sale of the property, is available only if the deed of trust or mortgage securing the loan contains a clause or provision granting a power of sale.

  • Non-judicial foreclosure shall be commenced by the Association by recording in the Office of the County Recorder a Notice of Default, which shall state all amounts which have become delinquent with respect to the Member’s Space and all Additional Charges, the amount of any Assessment which is due and payable although not delinquent, a legal description of the property with respect to which the delinquent Assessment is owed, and the name of the Member of record.

  • Nonjudicial foreclosure is fast – at least twice as fast as judicial foreclosure.

  • Nonjudicial foreclosure is expedient, but by its very nature, it is less likely to catch mistakes than a judicial review, which occurs in judicial foreclosure states.

  • Nonjudicial foreclosure of a residential mortgage eliminates deficiency judgments for good faith debtors.

  • Non-judicial foreclosure of the property occurred on December 4, 2014.

  • Non-judicial foreclosure is usually created and regulated by statute.

  • The liquidation plan must inform the Agency of the proposed method of acquisition, including: • Judicial foreclosure;• Non-judicial foreclosure; or• Deed-in-lieu of foreclosure.The lender must estimate the time frame when the acquisition should occur.In most cases, acquisition should be completed within 120 calendar days from approval of the liquidation plan.

  • Non-judicial foreclosure will then be commenced by the Association’s law firm pursuant to the CC&Rs, and Civil Code §§ 5700(a), 5710(a), 5735, and 5710(c)(1)-(2) and 2924, et seq.


More Definitions of Nonjudicial foreclosure

Nonjudicial foreclosure means the sale of a lot: 939 (a) for the nonpayment of an assessment;
Sample 1Sample 2
Nonjudicial foreclosure means the sale of a lot: 753 (a) for the nonpayment of an assessment; and
Sample 1
Nonjudicial foreclosure means a foreclosure that proceeds without judicial process.
Sample 1Sample 2
Nonjudicial foreclosure means foreclosure under the power of sale foreclosure process under part II.
Sample 1
Nonjudicial foreclosure means the sale of a Lot for the nonpayment of an Assessment in the same manner as the sale of trust property under Utah Code Xxx. §§ 57-1-19 through 57-1-34 and as further provided in Article 7 hereof.
Sample 1

Related to Nonjudicial foreclosure

  • Foreclosure Event means: (i) foreclosure under the Mortgage; (ii) any other exercise by Mortgagee of rights and remedies (whether under the Mortgage or under applicable law, including bankruptcy law) as holder of the Loan and/or the Mortgage, as a result of which Mortgagee becomes owner of the Property; or (iii) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in the Property in lieu of any of the foregoing.

  • Foreclosure Property shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Condemnation means a temporary or permanent taking by any Governmental Authority as the result or in lieu or in anticipation of the exercise of the right of condemnation or eminent domain, of all or any part of the Property, or any interest therein or right accruing thereto, including any right of access thereto or any change of grade affecting the Property or any part thereof.

  • Mortgagee means the mortgagee, grantee or beneficiary under any Mortgage, any holder of legal title to any portion of any Mortgage Loan or, if applicable, any agent or servicer on behalf of such party.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Eligible Mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.