Nonjudicial Foreclosure Law and Legal Definition
Nonjudicial foreclosure is the power to sell property at foreclosure without court procedure. It is the foreclosure of a chattel mortgage under a power of sale granted to the mortgagee by the terms of the mortgage. In a nonjudicial foreclosure, there will be foreclosure of a mortgage or deed of trust, covering real estate, under a power of sale contained in the instrument or created by a separate instrument.
