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)

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References in periodicals archive ?

If the forced sale of Stanlow goes ahead, the operation would be unaffected and no jobs would be at risk.

Ruling opens way for Stanlow sale

Thereafter, the forced sale proceeded and the successful bidder was the bank, which acquired the property.

Mortgaged property affected by land consolidation

On May 30, he sued the NBA and Commissioner Adam Silver for $1 billion in damages resulting from the forced sale of the team.

Donald Sterling agrees to drop lawsuit against NBA

He said a forced sale of the majority of the company would destroy future earnings prospects and shareholder value.

Caradon's call to shareholders

(A prime example: the Wrigley family's forced sale of their 80 percent stake in the Chicago Cubs and Wrigley Field in '81.)

Life Insurance

The Press Association understands that Midtown Acquisitions is seeking a forced sale of the Stanlow oil refinery as it looks to recoup more than 400 million US dollars (PS304 million) lent to Essar, the owner of the site.

Stanlow oil refinery owner may have to sell; IN BRIEF

The lender is obliged to notify the borrower in writing of their intention to proceed with a forced sale, but can also publish the notification in two main newspapers if it is impossible to serve the notice.

Foreclosures to bypass Land Registry dominance

The loan documents should strictly prohibit bringing a partition action while the loan is outstanding, otherwise the prospect of a forced sale would loom perpetually through the term of the loan.