Judicial Foreclosure Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Judicial Foreclosure, written in plain English, along with examples of how it is used.

What is Judicial Foreclosure?

It is a situation when the lender or the one who sues approaches court to use the law of foreclosure where if the borrower is not able to pay the loan (which was brought from the lender by mortgaging the property or asset), his/her asset is conficated and sold for repayment of principal and interest.