bulk sale(redirected from Bulk sales act)
Also found in: Legal.
The sale of a large number of real estate properties at the same time as if they were one unit. The properties are not connected and usually have nothing in common except that they are sold in the same transaction. Bulk sales developed as a way to divest oneself of a real estate investment.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Transfer of all or substantially all the assets of a business. Some states have bulk sales laws requiring notice to creditors before any such sales,so that a debtor may not liquidate all assets, pocket the money,and leave creditors holding the bag.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.