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 ?
When a bank purchases a home at sheriff's sale, the property becomes "real estate owned" (REO) on the bank's books.
Because of its allegation that the lender should have paid the lumber company mechanic's lien at the sheriff's sale, the Minnesota Supreme Court granted the lumber company's request for a direct money judgment against the lender (and collecting a money judgment against a lender is usually not a problem).
RJM is deferring to the Soap Factory for further comment about the sheriff's sale, she said.
Between Listing 1 and Listing 2 there was a sheriff's sale after foreclosure at an unknown price.
The owner sought a reduction in value to $700,000, claiming that the Property "[n]eeds [w]ork." As proof of the reduced value, the owner referenced a 2013 sheriff's sale of the Property for $520,100.
The last situation involved information about a sheriff's sale in a pending foreclosure against an owner that was discussed in a closed session of the board.
Too, the expiration of that one-year period forecloses the owner's right to redeem, thus making the sheriff's sale absolute.
The cargo vessel Hanjin Rome was sold in a sheriff's sale last Wednesday, Singapore's Supreme Court website showed.
Allis bought Reliance Works, a French buhr mill manufacturer in Milwaukee, at a sheriff's sale for a reported $22.72.
The land immediately south of Eugene went to Umpqua in a sheriff's sale procedure.
Oliphant credited the turnaround to a vigorous reengagement with the community, and in particular to the advocacy of Pittsburgh's mayor, Bill Peduto, and county executive Rich Fitzgerald (these same players were credited with helping to reverse the results of the sheriff's sale).
The most likely scenario was that the city would end up purchasing the lots at the sheriff's sale and taking possession of the property, but that was far from an ideal outcome.