Mortgage Enforcement
/ˈmɔːrɡɪdʒ ɪnˈfɔːrsmənt/
Definitions
- (n.) The legal process by which a mortgagee seeks to enforce their rights, typically by foreclosing on the property when the mortgagor defaults on payments.
The bank initiated mortgage enforcement after the borrower failed to meet the repayment schedule.
Forms
- mortgage enforcement
Related terms
See also
Commentary
Mortgage enforcement primarily concerns the remedies available to lenders on borrower default; drafters should ensure clarity regarding default definitions and enforcement triggers in mortgage documents.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.