fore·close /fōr-'klōz/ vb [Anglo-French forclos, past participle of foreclore to preclude, prevent, from fors outside + clore to close]
vt: to subject to foreclosure proceedings
vi: to foreclose a mortgage or other security interest compare repossess, seize 2

Merriam-Webster’s Dictionary of Law. . 1996.

index arrest (stop), ban, bar (hinder), block, clog, condemn (seize), confiscate, deprive, deter, dispossess, impede, preclude, prevent, prohibit, repossess, stay (halt)

Burton's Legal Thesaurus. . 2006

To end someone’s right to a property; to take possession of mortgaged property as a result of the property owner’s failure to make payments.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

This term has different meanings depending on the context in which it is used:
• In the context of property law, where, if a mortgagor of land fails to repay the loan, the mortgagee obtains a court order under which it becomes owner of the land.
• In the context of competition law, the closing of potential opportunities to actual or potential competitors by means of exclusivity arrangements (so that, for example, a party who agrees to purchase all his requirements for products of a particular range from one supplier denies other suppliers the opportunity of supplying him). There will be foreclosure where such arrangements make it difficult to enter the market and where there are no concrete possibilities for bypassing those arrangements, for example, by acquiring or using other distribution formats.
+ foreclosure
foreclose, Also known as foreclosure.
A secured lender's act to terminate a debtor's interest in collateral. The lender can either take title and possession of the collateral or force a sale of the collateral.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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Look at other dictionaries:

  • foreclose — fore‧close [fɔːˈkləʊz ǁ fɔːrˈkloʊz] verb 1. [intransitive] BANKING PROPERTY FINANCE if a bank or building society forecloses, it takes possession of someone s property because they have failed to pay back an agreed part of a loan …   Financial and business terms

  • Foreclose — Fore*close , v. t. [imp. & p. p. {Foreclosed}; p. pr. & vb. n. {Foreclosing}.] [F. forclos, p. p. of forclore to exclude; OF. fors, F. hors, except, outside (fr. L. foris outside) + F. clore to close. See {Foreign}, and {Close}, v. t.] To shut up …   The Collaborative International Dictionary of English

  • foreclose — [fôr klōz′] vt. foreclosed, foreclosing [ME forclosen < OFr forclos, pp. of forclore, to exclude < fors (< L foris: see DOOR), outside + clore (< L claudere), CLOSE3] 1. to shut out; exclude; bar 2. to extinguish the right to redeem… …   English World dictionary

  • foreclose — (v.) late 13c., from O.Fr. forclos, pp. of forclore exclude (12c.), from fors out (Mod.Fr. hors; from L. foris outside; see FOREIGN (Cf. foreign)) + clore to shut (see CLOSE (Cf. close) (v.)). Senses i …   Etymology dictionary

  • foreclose — ► VERB 1) take possession of a mortgaged property as a result of defaults in mortgage payments. 2) rule out or prevent. DERIVATIVES foreclosure noun. ORIGIN originally in the sense «bar from escaping», «shut out»: from Old French forclore shut… …   English terms dictionary

  • foreclose — v. (D; intr.) to foreclose on (they will foreclose on us) ( they will foreclose our mortgage ) * * * [fɔː kləʊz] (D; intr.) to foreclose on ( they will foreclose our mortgage ; they will foreclose on us) …   Combinatory dictionary

  • foreclose — UK [fɔː(r)ˈkləʊz] / US [fɔrˈkloʊz] verb [intransitive] Word forms foreclose : present tense I/you/we/they foreclose he/she/it forecloses present participle foreclosing past tense foreclosed past participle foreclosed legal to take someone s… …   English dictionary

  • foreclose — fore|close [fo:ˈkləuz US fo:rˈklouz] v [I ] technical [Date: 1200 1300; : Old French; Origin: forclos, past participle of forclore, from fors outside + clore to close ] if a bank forecloses, it takes away someone s property because they have… …   Dictionary of contemporary English

  • foreclose — verb Etymology: Middle English, from Anglo French forclos, past participle of forclore, forsclore, from fors outside (from Latin foris) + clore to close more at forum Date: 15th century transitive verb 1. to shut out ; preclude 2. to hold… …   New Collegiate Dictionary

  • foreclose — foreclosable, adj. /fawr klohz , fohr /, v., foreclosed, foreclosing. v.t. 1. Law. a. to deprive (a mortgagor or pledgor) of the right to redeem his or her property, esp. on failure to make payment on a mortgage when due, ownership of property… …   Universalium

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