What term refers to the rights of parties affected by a mortgage at the conclusion of a foreclosure procedure?

The correct term that refers to the rights of parties affected by a mortgage at the conclusion of a foreclosure procedure is conclusive rights. In the context of foreclosure, conclusive rights signify that once the foreclosure process has been completed, the previously existing rights of the parties involved are settled and confirmed. For instance, the lender's right to reclaim the property is finalized, and any remaining interests of other parties are extinguished or resolved in accordance with the judicial decision made during the foreclosure process.

This concept is crucial in understanding what takes place after foreclosure, as it provides clarity on the legal standing of all parties involved. It underscores the fact that upon conclusion, the court's decision is definitive, leaving no room for further claims by those who have been affected, such as the borrower or junior lienholders. Conclusive rights help streamline the process and eliminate lingering uncertainties regarding ownership and obligations related to the property.