/strɪkt fɔrˈkloʊʒər/ – Phrase
Definition: lệnh của tòa án phải trả nợ nếu không sẽ tước quyền chuộc lại tài sản đã cầm cố.
A more throughout explanation: Strict foreclosure is a legal process in which a lender seeks to foreclose on a property and take ownership of it in satisfaction of a debt, without the need for a public sale or auction. In a strict foreclosure, the lender is typically required to provide notice to the borrower and any other interested parties, giving them an opportunity to pay off the debt or redeem the property before the lender takes ownership. If the debt is not satisfied, the lender can then take title to the property without the need for a sale.
Example: In the case of default on the mortgage, the lender may pursue strict foreclosure, which allows them to take possession of the property without going through a public sale.