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FORECLOSURE ACTION [5 records]

Record 1 2011-09-06

English

Subject field(s)
  • Legal Actions
CONT

The lender is limited to a foreclosure(a quick private sale or a judicial foreclosure along with a deficiency judgment). This is the one authorized action that a secured lender may properly take, and the entire concept is referred to as the one-action rule. If the lender violates the rule, it might find itself unable to proceed against the borrower at all, or at best it will become an unsecured creditor.

French

Domaine(s)
  • Actions en justice
CONT

On demandera des ordonnances pour [...] j) ordonner que, dans les cas où une poursuite autorisée en vertu du sous-alinéa 4.06 i) est intentée, la quittance réputée prévue au paragraphe 11.01 est modifiée de façon à permettre que la poursuite se continue uniquement dans le cas de réclamations non éteintes.

Spanish

Save record 1

Record 2 2011-03-28

English

Subject field(s)
  • Legal Actions
  • Property Law (common law)
CONT

Once the mortgagor has made default in payment of the mortgage debt, the mortgagee is entitled to pursue any or all of his remedies... Hence the mortgagee can at the same time sue for payment on the covenant to pay principal and interest, for possession of the mortgaged estate, and for foreclosure... If the mortgagee realises part of the debt by his action on the covenant, or by sale of part of the property, he must give credit in the foreclosure action for the amount realised, and if, after foreclosure, he proceeds on the covenant, he re-opens the foreclosure.

OBS

action on the covenant: Not to be confused with "action of covenant," which consisted in a claim for damages arising from the breach of a promise made under seal, prior to the Judicature Acts (1873-1875).

French

Domaine(s)
  • Actions en justice
  • Droit des biens et de la propriété (common law)
OBS

action pour violation de covenant : Ne pas confondre avec «action de covenant» et «action en covenant», qui désignent une ancienne action en justice disparue au XIXe siècle qui visait la réclamation de dommages-intérêts pour la violation d'un covenant.

OBS

action pour violation de covenant : terme normalisé dans le cadre du Programme de l'administration de la justice dans les deux langues officielles (PAJLO).

Spanish

Save record 2

Record 3 2003-09-18

English

Subject field(s)
  • Decisions (Practice and Procedural Law)
  • Property Law (common law)
CONT

In default of payment according to the report in a foreclosure action, a final order of foreclosure may, on a "ex parte" application, be granted against the party making default.

Key term(s)
  • final foreclosure order

French

Domaine(s)
  • Décisions (Droit judiciaire)
  • Droit des biens et de la propriété (common law)
CONT

[...] il a été convenu que ladite somme de $16,000 serait remboursée à International Airport Industrial Park Limited dès exécution du rachat et enregistrement d'une ordonnance définitive de forclusion.

Spanish

Save record 3

Record 4 2003-07-15

English

Subject field(s)
  • Property Law (common law)
  • Property Law (civil law)
CONT

An action for foreclosure can be brought by any mortgagee of property, whether he is the original mortgagee or an assignee, and whether he is a first or subsequent mortgagee. The effect of a foreclosure order absolute in an action brought by the first mortgagee is to make him the sale owner both at law and in equity, free from any subsequent mortgages...

French

Domaine(s)
  • Droit des biens et de la propriété (common law)
  • Droit des biens et de la propriété (droit civil)

Spanish

Save record 4

Record 5 1999-02-22

English

Subject field(s)
  • Areal Planning (Urban Studies)
  • Urban Development
  • Parks and Botanical Gardens
DEF

Lands acquired by a government for future use.

OBS

land reserve: term used by Parks Canada.

CONT

The Government Action on Urban Land Project responded by streamlining the foreclosure process for abandoned properties. Foreclosures that formerly took years are being completed in eight months. With its new foreclosure process, the county can amass large tracts of land, which are placed in a land bank.

French

Domaine(s)
  • Aménagement du territoire
  • Développement urbain
  • Parcs et jardins botaniques
DEF

Terrains acquis par la collectivité en vue d'une utilisation ultérieure dans le cadre des objectifs du SDAU [Schéma directeur d'aménagement et d'urbanisme].

OBS

Terme en usage à Parcs Canada.

Spanish

Save record 5

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