What is the term for when a mortgagor waives the benefits of appraisement and agrees to executory process?

The term for when a mortgagor waives the benefits of appraisement and agrees to executory process is "confession of judgment." This legal concept allows the mortgagor to effectively admit to the debt and agree to the terms of the mortgage without requiring the lender to go through the complete process of foreclosure, which can be lengthy and complicated.

In this context, a confession of judgment streamlines the process for the lender, as it allows for a quicker resolution by bypassing certain procedural requirements, including an appraisal of the property. The mortgagor essentially acknowledges their obligation under the mortgage and accepts the lender's right to proceed with execution against the property if they default, making it a significant legal tool in securing the lender's interests.

While other terms like admittance of claim, accord and satisfaction, and voluntary surrender each pertain to different aspects of legal proceedings and obligations, none reflect the specific waiver of rights in appraisement coupled with the execution of a judgment as “confession of judgment” does in this scenario.