forced sale

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An involuntary transaction that occurs in the form and at the time specified by law for the purpose of applying the proceeds to satisfy debts, such as a mortgage or a tax lien, incurred by the owner of the property.

A forced sale results from the execution of a judgment previously rendered by a court.

forced sale n. a sale of goods seized by the sheriff to satisfy (pay) a judgment. (See: execution)

See also: condemnation

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