Canons of Positive Law Article 108 - Foreclosure Canon 2133 A Foreclosure is a formal hearing relating to a standard Mortgage requested by a financial institution or interested party to deprive a tenant of their Right of Redemption, also known as "equity of...
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Canons of Positive Law Article 108 - Foreclosure Canon 2133 A Foreclosure is a formal hearing relating to a standard Mortgage requested by a financial institution or interested party to deprive a tenant of their Right of Redemption, also known as "equity of redemption", declare them "delinquent" and therefore terminate their tenancy without legal recourse, permitting them to be legally evicted. Canon 2134 Delinquency is not merely the failure to perform the obligations specified under a lease, but the failure to provide any form of considered attempt to perform. Therefore, a tenant that continues to perform under severe financial difficulties, even if the amount is grossly under their original obligations, cannot be considered "delinquent" and Foreclosure is unlawful. Canon 2135 Foreclosures are equivalent to the court process of Replevin, also known "Claim and Delivery" as part of Repossession of other leased property. Replevin is a formal hearing requested by the Owner (lessor) again
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