以司法途径取消抵押物赎回权

名词

full

judicial foreclosure

noun

Comparative law notes

Under Chinese law, if the mortgage debt is not repaid, the mortgagor and mortgagee may agree to sell the property and to apply the proceeds toward the debt. If no agreement is reached, the sole method of foreclosing a mortgage in China appears to be by court-ordered auction under the Guarantee Law of the People's Republic of China, Art. 53.

Definitions of judicial foreclosure

for a court to confirm that a debtor has not paid back a loan as agreed and to order the auction of the debtor's property, especially property used as security for the loan, to raise funds to pay back the creditor; the judicial process required to do this

In California, a creditor may commence both a judicial foreclosure and a nonjudicial power of sale.