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etimología

Qué (quién) es notice of default - definición

FAILURE TO DO SOMETHING REQUIRED BY LAW (E.G. PAY A DEBT OR APPEAR IN LEGAL PROCEEDINGS)

Notice of default

notice of default

n. a notice to a borrower with property as security under a mortgage or deed of trust that he/she is delinquent in payments. If the delinquency (money owed and late), plus costs of preparing the legal papers for the default, are not paid within a certain time, foreclosure proceedings may be commenced. Other people with funds secured by the same property are usually entitled to receive copies of the notice of default. See also: notice

Default (law)

In law, a default is the failure to do something required by law or to comply with a contractual obligation. Legal obligations can arise when a response or appearance is required in legal proceedings, after taking out a loan, or as agreed in a contract; failure to carry them out puts one in defaults of the obligations.

https://en.wikipedia.org/wiki/Default_(law)

Default (finance)

FAILURE TO MEET THE LEGAL OBLIGATIONS OF A LOAN (E.G. BY SUSPENDING PAYMENTS)

Default notice; Default Notice UK; Loan default; Loan payment failures; Default Notice; Debt default; Financial default; Technical default; Payment default

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.

https://en.wikipedia.org/wiki/Default_(finance)

Wikipedia

Default (law)

In law, a default is the failure to do something required by law or to comply with a contractual obligation. Legal obligations can arise when a response or appearance is required in legal proceedings, after taking out a loan, or as agreed in a contract; failure to carry them out puts one in defaults of the obligations.

The concept of a "deliberate default" was considered in a UK legal case determined in 2010, De Beers UK Ltd. v Atos Origin It Services UK Ltd., where a contract had referred to this term. Edwards-Stuart J described "deliberate default" as meaning, in his view,

a default that is deliberate, in the sense that the person committing the relevant act knew that it was a default (i.e. in this case a breach of contract). I consider that it does not extend to recklessness and is therefore narrower than wilful misconduct (although the latter will embrace deliberate default).

Before the De Beers case there was little judicial guidance on the meaning of "deliberate default".

The same term ("deliberate defaulters") has been used by Her Majesty's Revenue and Customs (HMRC) in the UK to describe "people who deliberately get their tax affairs wrong".

https://en.wikipedia.org/wiki/Default (law)

Ejemplos de uso de notice of default

1. Documents dated February 7 show the notice of default was withdrawn.

2. The April data show nearly half of the properties received an initial notice of default, suggesting many homes were new entrants to the foreclosure process.