Forced Sale (Noun)
Meaning
A sale of property by the sheriff under authority of a court's writ of execution in order satisfy an unpaid obligation.
Classification
Nouns denoting communicative processes and contents.
Examples
- The lender initiated a forced sale of the borrower's real estate after multiple failed attempts to negotiate a payment plan.
- A writ of execution was issued, directing the sheriff to conduct a forced sale of the defendant's vehicle to pay off the outstanding judgment.
- The creditor filed a court motion to request a forced sale of the debtor's assets, citing non-payment of the debt for several years.
- Following a lengthy foreclosure process, the lender finalized a forced sale of the homeowner's property to recover the amount owed.
- After exhausting all other remedies, the court ordered a forced sale of the corporation's assets to settle outstanding tax liabilities.