Sheriff's sale
Term · Law · MLC-T-LAW-004532
A public auction of property, typically real estate, conducted by a sheriff or other court officer to satisfy a judgment or foreclosure. This sale occurs after a court order directs the seizure and sale of assets to pay off a debt. The proceeds from the sale are used to satisfy the outstanding judgment, with any surplus returned to the debtor.
| Identifier | MLC-T-LAW-004532 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-004532",
"term": "Sheriff's sale",
"field": "Law",
"definition": "A public auction of property, typically real estate, conducted by a sheriff or other court officer to satisfy a judgment or foreclosure. This sale occurs after a court order directs the seizure and sale of assets to pay off a debt. The proceeds from the sale are used to satisfy the outstanding judgment, with any surplus returned to the debtor.",
"url": "https://mlchart.com/terminology/law/sheriff-s-sale/"
}
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