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LSDefine

Simple English definitions for legal terms

foreclosure decree

Read a random definition: Office of Science and Technology Policy

A quick definition of foreclosure decree:

Foreclosure Decree: A legal order that says a house or property must be sold because the owner didn't pay their mortgage. It can also mean a legal order that says the bank can take the property without a sale.

A more thorough explanation:

A foreclosure decree is a legal order issued by a court that allows a lender to sell a property to recover the unpaid debt owed by the borrower. There are two types of foreclosure decrees:

  1. Judicial foreclosure sale: This type of decree orders the sale of the property through a public auction. The proceeds from the sale are used to pay off the outstanding debt, and any remaining amount is returned to the borrower.
  2. Strict foreclosure: This type of decree allows the lender to take ownership of the property without a sale. The lender can then sell the property to recover the debt owed.

For example, if a borrower defaults on their mortgage payments, the lender can file a lawsuit to obtain a foreclosure decree. The court will then order the sale of the property or allow the lender to take ownership of the property. This process can be stressful and financially devastating for the borrower, as they may lose their home and any equity they have built up.

foreclose | foregift

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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