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What is a judicial sale?
What is a judicial sale agreement?
What happens in a judicial sale of a property?
Is a judicial sale a foreclosure?
What is the difference between a judicial sale and a loan?
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May 16, 2024 · A judicial sale occurs when a court orders the auction or sale of a piece of real estate for a certain price. When the property is sold, the new owner takes over its title. Ordinarily, the proceeds from the sale go to pay off the balance on an outstanding debt, such as a mortgage, court judgment, or unpaid taxes.
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A judicial sale occurs when a court orders the auction or...
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A judicial sale is a process that happens when someone owes money and fails to pay it back. Imagine you lend a friend some money, and they promise to pay you back but never do. If you decide to take legal action and win a court case, the court may order your friend to pay you back.
- An Unfortunate Circumstance
- Foreclosure Proceedings Begin and The Court Orders A Judicial Sale
- Judicial Sale Due to Divorce
In uncertain economic times, things can go from bad to worse for Albertans who lose their jobs, and they may stop making mortgage payments, and end up losing their home. In such an uncertain ownership situation, who sells the home? Who works for whom? Is a signed seller representation agreement required? Likewise, when a couple divorces and one spo...
In a judicial sale, a property for which a lender provided mortgage funds is in foreclosure and wants it sold to recover their investment. They do not technically own the home but they can still force the sale, which makes such a sale different from a traditional seller client relationship. Plaintiffs and Defendants In a judicial sale, the lender i...
The Dower Act gives a legally married couple equal rights to dispose of the matrimonial home, regardless if only one party is on title. When legally married couples divorce, the Matrimonial Property Act(MPA) comes into play, as divorcing couples may disagree on the division of joint assets, including real property. When couples cannot agree on a di...
Definition of "judicial sale". A sale conducted under court order or supervision by a court-appointed official, often for the purpose of satisfying a judgment or executing a court order. How to use "judicial sale" in a sentence.
People frequently refer to a judicial sale as a foreclosure. There is a key difference. With a judicial sale, the court sells the property. The proceeds of the sale then pay off the loan (or as much of it as possible). The court attempts to secure a sale as close to fair market value as possible.
n. a sale of goods by an official (keeper, trustee or sheriff) appointed by the court and ordered by a court, usually to satisfy a judgment or implement another order of the court. Such sales require public notice of time, place and a description of the goods to be sold.
A judicial sale refers to a situation when, after the monetary final judgment of a lawsuit is issued, the judgment creditor must collect the judgment debt from judgment debtor through the sale of some piece of property.
