Abstract
In the U. S., nonjudicial foreclosure under power of sale is widely in use as a cheap and quick procedure of foreclosure. Uniform Nonjudicial Foreclosure Act was approved in 2002 by National Conference of Commissioners on Uniform State Laws under the belief that judicial involvement is unnecessary in the great majority of foreclosures because there is no dispute between the debtor and the creditor. Nonjudicial foreclosure will contribute to reduction of the cost and shortening of the period by making survey report of property and expert valuation unnecessary in the procedure of foreclosure. Nonjudicial foreclosure should be introduced also in Japan.
