Strict foreclosure
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
A decree of strict foreclosure of a mortgage finds the amount due under the mortgage, orders its payment within a certain limited time, and provides that, in default of such payment, the debtor's right and equity of redemption shall be forever barred and foreclosed; its effect is to vest the tide of the property absolutely in the mortgagee, on default in payment, without any sale of the property.
Champion v. Hinkle, 45 N. J. Eq. 162, 16 Atl. 701; Lightcap v. Bradley, 186 111. 510, 58 N. E. 221; Warner Bros. Co. v. Freud, 138 Cal. 651, 72 Pac. 345.