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Home > Law > Law glossary > Law glossary
Foreclosure nisi
Last modified: Thu Feb 23 16:37:37 2006
An order of the court granted in favour of a mortgagee in foreclosure proceedings. It gives the mortgagor a fixed time to settle the loan and, if not complied with, allows the mortgagor to obtain an order of ForeclosureAbsolute and obtain ownership of the mortgaged property.
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