Practical Law Glossary Item 3-502-0039 (Approx. 2 pages)
Glossary
Judicial Foreclosure
A sale of mortgaged property that is handled as a civil lawsuit and supervised by a court. Proceeds are allocated first to satisfying the mortgage, then distributed to other lien holders and finally split among any remaining borrowers. Every state has its own approach to judicial foreclosure. Certain aspects, including notification requirements, vary considerably among the states.