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strict foreclosure n1 : a proceeding in which the amount due on a mortgage is determined and a period of time within which it must be paid is fixed with the understanding that in the event of the mortgagor's default title will be vested in the mortgagee free of any right of the mortgagor to redeem compare statutory foreclosure
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.