Executory Process Law and Legal Definition
Executory process is an accelerated procedure whereby a mortgage creditor may provoke a sale of the encumbered property to satisfy his mortgage. The law has surrounded executory process with safeguards so as to provide protection to the debtor. In Thermo Credit L.L.C. v. CentricVoice, Inc., 2008 U.S. Dist. LEXIS 85221 (E.D. La. Oct. 21, 2008), it was held that executory process is a suit of a civil nature and the federal rules govern the executory procedure in the district courts of the U.S.
Executory process is also an accelerated procedure, and it is summary in nature, by which the holder of a mortgage or privilege evidenced by a confession of judgment seeks to effect an ex parte seizure.
