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What is a judicial sale?
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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 where a court sells property to pay off debts. This usually happens when someone owes money and can't pay it back. The court steps in to sell the property, like a house or land, to help settle the debt.
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. The creditors were finally paid off after the judicial sale of the debtor's property.
- 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...
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.
A judicial sale is a method plaintiffs use to enforce a judgment. When a plaintiff wins a judgment against a defendant in civil court, and the defendant does not pay the judgment, the plaintiff can force the sale of the defendant's property until the judgment is satisfied.
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.
