MLchartDataset catalogue

Forced sale

Term · Law · MLC-T-LAW-002165

An involuntary disposition of property compelled by a legal authority to satisfy a debt or other obligation owed by the property owner. This type of sale occurs without the owner's consent, such as in a mortgage foreclosure, a tax sale to recover delinquent taxes, or a sale by a bankruptcy trustee. The proceeds from the sale are applied to the outstanding debt, with any surplus returned to the former owner.

Table 1. Record
IdentifierMLC-T-LAW-002165
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002165",
  "term": "Forced sale",
  "field": "Law",
  "definition": "An involuntary disposition of property compelled by a legal authority to satisfy a debt or other obligation owed by the property owner. This type of sale occurs without the owner's consent, such as in a mortgage foreclosure, a tax sale to recover delinquent taxes, or a sale by a bankruptcy trustee. The proceeds from the sale are applied to the outstanding debt, with any surplus returned to the former owner.",
  "url": "https://mlchart.com/terminology/law/forced-sale/"
}

Record 2,074 of 5,441 in Law terminology (MLC-0107). Request the full dataset.