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.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
forced sale
n. a sale of goods seized by the sheriff to satisfy (pay) a judgment. (See: execution)
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