Examlex
When we experience a situation that is ambiguous, we tend to look to others to determine how to react. If others seem calm, and we think that we're the only ones who think there might be a problem, then we experience
Default
The failure to fulfill a legal obligation, such as not making a payment on a loan.
Equity of Redemption
The right of a borrower to reclaim property put up as collateral after clearing their debt, especially in relation to mortgage agreements.
Mortgageable Estate
A property or estate which can be used as security for a mortgage loan.
Writ of Possession
A court order granting a party the right to take possession of property, often issued after a judgment in an eviction or foreclosure process.
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