Strict foreclosure in the law of security interests in the United States, is the foreclosure of personal property that is subject to such an interest. This is permitted under Article 9 of the Uniform Commercial Code. The secured party in a strict foreclosure takes physical possession of collateral, and the debt for which the property served as col...
Found on
http://en.wikipedia.org/wiki/Strict_foreclosure
Is a legal premise that gives a lender ownership to property, allows the borrower to be evicted for nonpayment, and gives the lender full and complete title by waiting a set time period until the borrower's right to redeem ends.
Found on
http://www.encyclo.co.uk/local/20965
No exact match found.
