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Strict Foreclosure

Defined in 3 dictionaries — Cyclopedic (1922), Ballentine's (1916), Black's (1910)

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

See "Foreclosure."

Ballentine's Law Dictionary

James A. Ballentine · 1916

A proceeding the purpose of which is to cut off the mortgagor’s right to redeem. See 186 111. 510, 58 N. E. 221.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

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.

Defined under Foreclosure in Black's Law Dictionary.