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Archive for February 2015

“In Rem” Deficiency Judgments: Risky Nonsense?

It’s a curious practice: Foreclosure plaintiffs file a complaint seeking a personal deficiency judgment against the mortgagor, but provide in the order confirming sale that the deficiency judgment is “in rem”. In rem, of course, means that the judgment is against the thing – the property which, by the terms of the order of confirmation, is transferred to the purchaser at the foreclosure sale (or its assignee).

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