Forced Sale


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Forced Sale

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: condemnation
References in periodicals archive ?
Thereafter, the forced sale proceeded and the successful bidder was the bank, which acquired the property.
On May 30, he sued the NBA and Commissioner Adam Silver for $1 billion in damages resulting from the forced sale of the team.
The long delays were mainly due to the procedures followed by the Land Registry, the only body authorised to carry out forced sales of mortgaged property in Cyprus.
Although the SPE helps isolate the property from the risk of a forced sale, the risk remains that multiple tenants expose the property to the risk that the bankruptcy-remoteness of any one of them could fail, thus causing the collapse of the TIC.
They don't know whether the sales price was the result of a forced sale or was actually fair market value.