Massachusetts General Laws ch. 29 sec. 37 – Real estate acquired by foreclosure; sale by state
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Section 37. Real estate acquired by the commonwealth by foreclosure may, with the approval of the governor and council, be conveyed by the state treasurer upon payment of the amount of the mortgage debt with the interest and expenses accrued thereon.
Terms Used In Massachusetts General Laws ch. 29 sec. 37
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.