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partition auction |
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partition auction An auction held when co-owners want to divide property they own in common but cannot agree on a physical division into parcels.As a result,the property is auctioned and the sales proceeds are split among them according to their percentage of ownership.Any co-owner is free to bid at the auction,but usually must bid an amount at least equal to the appraised value of the property. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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