The sale of real property given to secure performance of an obligation after the obligation has been breached. rant Deed A written instrument transferring title to real property.
Sale of property pledged as security for a debt. The property is sold to pay the debt after a default occurs.
A sale held for the purpose of liquidating a property in satisfaction of a debt.
A forced sale of mortgaged property at public auction conducted either by the court or in some other prescribed fashion, with the proceeds of the sale going to satisfy the debt. The lender is usually the successful bidder at the foreclosure sale.
The sale of property given as security to secure performance of an obligation.