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notice of default :: legal definition


Notice of default - n. a notice to a borrower with property as security under a mortgage or deed of trust that he/she is delinquent in payments. If the delinquency (money owed and late), plus costs of preparing the legal papers for the default, are not paid within a certain time, foreclosure proceedings may be commenced. Other people with funds secured by the same property are usually entitled to receive copies of the notice of default.

See also: notice and Related Law Terms ↓


Related Law Terms

after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
default :: 1) n. failure to respond to a summons and complain ... default judgment notice of default
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
notice to quit :: n. the notice given by a landlord (owner) to a ten ... h-to-month notice unlawful detainer
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance
unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - N

N.O.V. :: adj. shorthand acronym of Latin for non obstante v ... notwithstanding the verdict verdic
National Labor Relations Board :: n. an independent regulatory commission created in ... see union and organizing elections.
natural law :: n. 1) standards of conduct derived from traditiona ... eated by mankind through the state.
natural person :: n. a real human being, as distinguished from a cor ... ated at law as a fictitious person.
necessary :: adj., adv. 1) essen- tial. 2) less forcefully, it ... nient, useful or making good sense.
necessary inference :: n. 1) a conclusion militated by reason and logic a ... nown facts. 2) unavoidable meaning.
necessary party :: n. a person or entity whose interests will be affe ... o: indispensable party proper party
negative declaration :: n. a finding by a city council or other local gove ... so: EIR environmental impact report
negative pregnant :: n. a denial of an allegation in which a person act ... suse, just the amount and the date.
negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort
negligence per se :: (purr say) n. negligence due to the violation of a ... riving. See also: negligence per se
negligent :: adj., adv. careless in not fulfilling responsibili ... esponsibility. See also: negligence
negotiable instrument :: n. check, promissory note, bill of exchange, secur ... bearer paper bill of exchange check
negotiation :: n. 1) the transfer of a check, promissory note, bi ... te. See also: negotiable instrument
net :: : n., adj. the amount of money or value remaining ... or net estate. See also: net estate
net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax
new matter :: n. newly claimed facts or legal issues raised (bro ... ee also: affirmative defense answer
next friend :: n. a person (often a relative) who voluntarily hel ... filed. See also: guardian ad litem
next of kin :: n. 1) the nearest blood relatives of a person who ... See also: descent and distribution
nihil :: (ni [as in it]-hill) n. from Latin for nothing. ... t]-hill) n. from Latin for nothing.