_____ implies that the creditor has no right to a deficiency and the debtor has no right to any surplus.

Question

Quizplus · Accepted Answer

A small number of states permit what is called strict foreclosure.The creditor keeps the property in satisfaction of the debt,and the owner's rights are cut off.This means that the creditor has no right to a deficiency and the debtor has no right to any surplus.Strict foreclosure is normally limited to situations in which the amount of the debt exceeds the value of the property.

_____ Implies That the Creditor Has No Right to a Deficiency