| 释义 |
strict foreclosure
noun
: a proceeding in equity that determines by decree the amount due on a mortgage, fixes a time within which the mortgagor debtor must pay it, and vests in case of his default absolute title in the mortgagee forever free of any right of the mortgagor to redeem and that is often used where the value of the mortgaged property does not exceed the mortgage debt — distinguished from statutory foreclosure; compare legal foreclosure |