Juridical Dictionary

This dictionary contains:
8526
juridical terms

Foreclosure






Foreclosure

The technical meaning of the word is to wipe out a right of redemption on a property. Generally, this is what happens when someone does not pay their mortgage. Even though there has been no payments, the borrower retains a equitable right of redemption if, some day, he or she were able to find the money and try to exercise their right of redemption. To clear the title of this potential, a lender goes to court, demonstrates the default, requests that a date be set where the entire amount becomes payable after which, in the absence of payment, the lender is automatically relieved of the requirement to redeem the property back to the borrower; the debtor's right of redemption is said to be forever barred and foreclosed. This cancels all rights a borrower would have in the property and the property then belongs entirely to the lender, who is then free to possess or sell the property. The word is frequently used to generally refer to the lender's actions of repossessing and selling a property for default in mortgage payments.

RELATED TERMS
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Technical
That which properly belongs to an art.

Word
Construction. One or more syllables which when united convey an idea a single part of speech.

Right
1) Sometimes it signifies a law, as when we say that natural right requires us to keep our promises, or that it commands restitution, or that it forbids murder. In our language it is seldom used in this sense. 2) It sometimes means that quality in our actions by which they are denominated just ones. This is usually denominated rectitude. 3) It is that quality in a person by which he can do certain actions, or possess certain things which belong to him by virtue of some title. In this sense, we use it when we say that a man has a right to his estate or a right to defend himself.

Redemption
Contracts. The act of taking back by the seller from the buyer a thing which had been sold subject to th right of repurchase.

Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.

When
1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent.

Mortgage
A legal instrument that creates a lien upon real estate securing the payment of a specific debt.

Equitable
That which is in conformity to the natural law.

Were
The name of a fine among the Saxons imposed upon a murderer

Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.

Title
1) Estates. A title is defined by Lord Coke to be the means whereby the owner of lands hath the just possession of his property. 2) Legislation That part of an act of the legislature by which it is known, and distinguished from other acts the name of the act. 3) Rights. The name of a newwpaper a book, and the like.

Court
A body in government to which the administration of justice is delegated.

Default
"1) The neglect to perform a legal obligation or duty; but in technical language by default is often understood the non-appearance of the defendant within the time prescribed by law, to defend himself; it also signifies the non-appearance of the plaintiff to prosecute his claim. 2) Contracts, torts. It is enacted that ""no action shall be brought to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person, unless the agreement"", ""shall be in writing,"" By default under this statute is understood the non-performance of duty, though the same be not founded on a contract.

Date
Latin datum, a thing given. The primary signification is time "given" or specified, - in some way ascertained and fixed. In the ancient form the clause ran: datum apud, etc., specifying the place and time; thence called the datum clause, afterward shortened to "date".

Entire
That which is not divided; that which is whole.

Payment
1) Contracts. That which is given to execute what has been promised; or it is the fulfilment of a promise. Solvere dicimus cum quis fecit, quod facere promisit. But though this is the general acceptation of the word, yet by payment is understood, every way by which the creditor is satisfied or ought to be, and the debtor, liberated for example, an accord and satisfaction will operate as a payment. 2) Pleadings. The name of a plea by which the defendant alleges that he has paid the debt claimed in the declaration; this plea must conclude to the country.

Said
Before mentioned.

Free
"1) Not bound to servitude; at liberty to act as one pleases. This word is put in opposition to slave. 2) Ships. By this is understood neutral vessels. Free ships are sometimes considered as making free goods.



SIMILAR TERMS
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Forehand rent
English law. A species of rent which is a premium given by the tenant at the time of taking the lease, as on the renewal of leases by ecclesiastical corporations, which is considered in the nature of an improved rent.

Foreign
That which belongs to another country; that which is strange.

Foreign attachment
The name of a writ. By virtue of a foreign attachment, the property of an absent debtor is seised for the purpose of compelling an appearance, and, in default of that, to pay the claim of the plaintiff.

Foreign government official
As a nonimmigrant class of admission, an alien coming temporarily to the United States who has been accredited by a foreign government to function as an ambassador, public minister, career diplomatic or consular officer, other accredited official, or an attendant, servant or personal employee of an accredited official, and all above aliens’ spouses and unmarried minor (or dependent) children.

Foreign information media representative
As a nonimmigrant class of admission, an alien coming temporarily to the United States as a bona fide representative of foreign press, radio, film, or other foreign information media and the alien’s spouse and unmarried minor (or dependent) children.

Foreign law
By foreign laws are understood the laws of a foreign country. The states of the American Union are for some purposes foreign to each other, and the laws of each are foreign in the others

Foreign nation
Foreign Nation or State. A nation totally independent of the United States of America.The constitution authorizes congress to regulate commerce with "foreign nations." This phrase does not include an Indian tribe, situated within the boundaries of a state, and exercising the powers of government and sovereignty.

Foreign order
A court order issued by another county, state or nation outside of the jurisdiction in which the custodial parent lives.

Foreign plea
One which, if true, carries the cause out of the court where it is brought, by showing that the matter alleged is not within its jurisdiction.

Foreign sovereign immunity
A doctrine precluding the institution of an action against the government of a country without its consent. The principle of absolute sovereign immunity has eventually been replaced by the doctrine of "restrictive sovereign immunity".

Foreign state of chargeability
The independent country to which an immigrant entering under the preference system is accredited. No more than 7 percent of the family-sponsored and employment-based visas may be issued to natives of any one independent country in a fiscal year. No one dependency of any independent country may receive more than 2 percent of the family-sponsored and employment-based visas issued. Since these limits are based on visa issuance rather than entries into the United States, and immigrant visas are valid for 6 months, there is not total correspondence between these two occurrences.

Foreigners
Aliens; persons born in another country than the United States, who have not been naturalized.

Forejudged the court
An officer of the court who is expelled the same, is, in the English law, said to be forejudged the court.

Foreman
The title of the presiding member of a grand jury.

Forensic
Suitable for use in a court proceeding.

Forensic auditing
Examination of a business process for evidence of Fraud.

Forensics
A general term sometimes used by a therapist hired to evaluate a family. the therapists will state in court which parent they feel should have custody of the child. this is know as a custody evaluation.

Forest
1) By the English law, a forest is a circuit of ground properly under the king's protection, for the peaceable living and abiding of beasts of hunting and the chase, and distinguished not only by having bounds and privileges, but also by having courts and offices. 2) The signification of forest in the United States is the popular one of an extensive piece of woodland.

Forestalling
Criminal law. Every practice or device, by act, conspiracy, words, or news, to enhance the price of victuals or other provisions.



PREVIOUS AND NEXT TERMS
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For that
Pleading. It is a maxim in law, regulating alike every form of action, that the plaintiff shall state his complaint in positive and direct terms, and not by way of recital. "For that " is a positive allegation; "For that whereas," in Latin "quod cum" is a recital.

Forbearance
Contracts. The act by which a creditor waits for the payment of the debt due him by the debtor, after it has become due.

Force majeure
A superior force. An event that no human foresight could anticipate or which if anticipated, is too strong to be considered an industrial strike which leads to loss of profits. Circumstances must be abnormal and unforeseeable, so that the consequences could not have been avoided through the exercise of all due care.

Forced heir
Forced heirs are those who cannot be disinherited. This term is used among the civilians.

Forced heirs
In Louisiana they are those persons whom the testator or donor cannot deprive of the porttion of his estate reserved for them by law, except in cases where he has a just cause to disinherit them. As to the portion of the estate they are entitled to. As to the causes for which forced heirs may be deprived of this right.

Foreclosure

Forehand rent
English law. A species of rent which is a premium given by the tenant at the time of taking the lease, as on the renewal of leases by ecclesiastical corporations, which is considered in the nature of an improved rent.

Foreign
That which belongs to another country; that which is strange.

Foreign attachment
The name of a writ. By virtue of a foreign attachment, the property of an absent debtor is seised for the purpose of compelling an appearance, and, in default of that, to pay the claim of the plaintiff.

Foreign government official
As a nonimmigrant class of admission, an alien coming temporarily to the United States who has been accredited by a foreign government to function as an ambassador, public minister, career diplomatic or consular officer, other accredited official, or an attendant, servant or personal employee of an accredited official, and all above aliens’ spouses and unmarried minor (or dependent) children.

Foreign information media representative
As a nonimmigrant class of admission, an alien coming temporarily to the United States as a bona fide representative of foreign press, radio, film, or other foreign information media and the alien’s spouse and unmarried minor (or dependent) children.

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This dictionary contains 8526 terms.