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Terms Used In Idaho Code 45-1303

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
All proceedings heretofore taken in any suit for the foreclosure of a mortgage or lien upon real property, and all judgments and decrees made, filed and docketed under such proceedings, and wherein the plaintiff, cross-complainant or plaintiff in intervention has quieted the title in such action or proceeding in conformity to the intent of section 45-1302, are hereby validated.