South Carolina Code 29-3-620. Mortgagor as party
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 29-3-620
- 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
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
It shall not be necessary to make a mortgagor who has conveyed to another the mortgaged premises a party to any action for foreclosure when no judgment for a deficiency is demanded.