judicial sale

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judicial sale

A sheriff conducts a judicial sale of a house on the courthouse steps.

Definition

Noun: A judicial sale is the forced sale of property, conducted by a court officer (such as a sheriff), under the authority of a court order. This process is used to convert the property into money to pay off a debt or satisfy a legal judgment that the owner has failed to pay.

Usage

This term is used in legal and financial contexts to describe a specific, court-ordered procedure. It is not a voluntary sale by the owner. - The property was transferred to the new owner through a judicial sale. - To recover the debt, the creditor petitioned the court for a judicial sale of the debtor's assets.

Examples
  • The bank initiated foreclosure proceedings, culminating in a judicial sale of the house.
  • Proceeds from the judicial sale of the company's equipment were distributed to its creditors.
  • A judicial sale is often the final step in the enforcement of a court judgment.
Advanced Usage
  • "to order a judicial sale": This is the legal action a judge takes to authorize the sale.
    • The judge ordered a judicial sale of the defendant's vehicle to cover the damages awarded to the plaintiff.
  • "subject to judicial sale": Describes property that can be legally sold through this process.
    • The seized assets are now subject to judicial sale.
Variants and Related Words
  • Sheriff's Sale / Execution Sale: These are common synonyms and specific types of judicial sales, emphasizing the officer conducting the sale.
  • Foreclosure Sale: A specific type of judicial sale related to mortgaged property, though some foreclosures can be non-judicial.
  • Forced Sale: A broader term that includes judicial sales and other involuntary sales.
Synonyms
  • Forced sale
  • Court-ordered sale
  • Execution sale
  • Sheriff's sale
Related Phrases
  • Writ of Execution: The court document that commands the sheriff to carry out the judicial sale.
  • Satisfy a Judgment: The primary purpose of a judicial sale is to satisfy (pay) a court's monetary judgment.
  • Public Auction: Judicial sales are typically conducted as public auctions.
judicial sale

A sheriff conducts a judicial sale of a house on the courthouse steps.

Noun
  1. a sale of property by the sheriff under authority of a court's writ of execution in order satisfy an unpaid obligation

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