The 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 pay the mortgage debt is known as:
A) foreclosure.
B) equity of redemption.
C) adverse possession.
D) execution of a deed of trust.

Question

Quizplus · Accepted Answer

Foreclosure is the legal process by which a lender (the mortgage holder) takes control of a property, terminates the borrower's (mortgagor's) rights in that property, and sells the property in order to pay off the mortgage debt.

The Action Through Which the Mortgage Holder Takes the Property