A Pennsylvania Precise For Writ of Execution — Mortgage Foreclosure is a legal document used to initiate the foreclosure of a mortgaged property. It is typically filed by the lender or their representative when a borrower has defaulted on their mortgage payments. The Precise is filed with the Prothonotary of the county in which the property is located, and it requests that a Writ of Execution be issued against the mortgaged property. There are two types of Pennsylvania Precise For Writ of Execution — Mortgage Foreclosure: judicial and non-judicial. Judicial Precise is used when the mortgage was originated through a judicial process, such as a court order. Non-judicial Precise is used when the mortgage was originated out of court. Both types of Recipes will include information about the parties involved, such as the lender and borrower, and the mortgage details, such as the amount due and the property address. Signatures of both the lender and the Prothonotary will also be included. Once the Precise is filed, the Prothonotary will issue the Writ of Execution, which will order the Sheriff to take possession of the mortgaged property and arrange a public sale. The proceeds of the sale will be used to pay off the balance of the mortgage debt.
Pennsylvania Praecipe For Writ of Execution - Mortgage Foreclosure
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