An action through which the mortgage holder takes the property from the mortgagor,ends the mortgagor's rights in the property,and sells the property to satisfy the debt is known as:
A) foreclosure.
B) equity of redemption.
C) adverse possession.
D) an executed deed of trust.

Question

Quizplus · Accepted Answer

Foreclosure is the legal process by which the mortgage holder can take possession of the property, terminate the rights of the mortgagor, and sell the property to recover the outstanding debt. It is a remedy available to the mortgage holder when the mortgagor fails to pay the mortgage debt. The process involves a court proceeding in which the property is sold to the highest bidder, and the proceeds are used to satisfy the outstanding debt.

An Action Through Which the Mortgage Holder Takes the Property