In what scenario does a mortgagee have the right to foreclose without selling the property?

A mortgagee has the right to foreclose without selling the property in a strict foreclosure situation. This type of foreclosure occurs when the mortgagee obtains a legal judgment granting them the right to repossess the property without the necessity of a public sale.

In strict foreclosure, if the mortgagor does not fulfill the obligations set forth in the mortgage agreement (usually relating to missed payments), the mortgagee can simply take back the property directly rather than having to go through the traditional foreclosure process, which often involves auctioning the property to the highest bidder. This can streamline the process for the mortgagee, allowing for more expedient recovery of the mortgage debt owed.

Other scenarios mentioned, like having enough equity or a verbal agreement, do not specifically pertain to the right of a mortgagee to foreclose without selling the property. Equity does not change the foreclosure process unless it is a part of the legal argument against foreclosure itself. Similarly, issues related to receivership and verbal agreements are governed by distinct legal frameworks that typically do not authorize a mortgagee to foreclose without a sale.