Statutory foreclosure

Definition - Noun
: a foreclosure in which a mortgagee or trustee executes a power of sale given in a mortgage or deed of trust and does so in accordance with statutory provisions
compare strict foreclosure

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
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slight negligence

failure to exercise the great degree of care typical of an extraordinarily prudent person

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