Sheriff's Sale


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Sheriff's Sale

An auction to sell private property that an authority has seized in order to pay a judgment. For example, suppose a man is found guilty of managing a Ponzi scheme. If he lacks the cash to repay the persons he defrauded, his house may be seized and later sold at a sheriff's sale.
References in periodicals archive ?
If the lender's mortgage encumbers separate parcels of real estate located in a number of different counties, and the lender acquires one of the parcels at a sheriff's sale, the lender must also petition to fix fair market value prior to holding a sheriff's sale on the next parcel of real estate.
All of these unknowns and risks strongly discourage individuals from purchasing a home to live in at a sheriff's sale.
Capital One responded by arguing that Nicoll's credit was limited to the amount realized at the sheriff's sale, and nothing requires that a debtor be entitled to credit for the price the lender obtains upon resale of the collateral.
Oregon State University/Lane County Extension Service report; authorize sheriff's sale of Ocean Woods property near Florence; deliberation on proposed amendments to Eugene-Springfield Metropolitan Area General Plan; contract for grading and paving on Stagecoach Road; animal regulation authority fees.
The bankruptcy filing, property owners said, was not because they've run out of cash, but because it was the only way to prevent the sheriff's sale, which was an attempt to retrieve money the developers owe the district.
Three weeks before her home was scheduled for a sheriff's sale, Shirley Wilmot, a full-time employee in the manufacturing industry and single mother of two, contacted AHP Ohio for help.
Sixteen months ago, this property was placed back on the market by the lender who had foreclosed on the property and bought it at the sheriff's sale.
The sale is in conjunction with a sheriff's sale pursuant to a foreclosure decree granted by the Iowa District Court in and for Lee County.
Unlike a trustee's sale or sheriff's sale, REO auctions typically allow for inspection of properties beforehand -- although the properties are sold "as is" -- and do not necessarily require winning bidders to have the full amount of the winning bid in cash at the auction.
Any of the three could be possible with a winning bid at Monday's annual sheriff's sale of surplus property.
The district is trying to foreclose on the property, and a sheriff's sale is scheduled for Aug.
In the past three months, two significant Downtown office buildings -- Warner Centre and Dominion Tower -- have been sold at sheriff's sale.