Definition, Meaning & Synonyms

judicial-sale

Noun

/ˈdʒuː.dɪ.ʃəl seɪl/

Definition

A sale of property that is ordered by a court.

Examples

The bank conducted a judicial sale to recover its losses from the defaulted mortgage.
During the judicial sale, bidders had the opportunity to purchase properties at reduced prices.
In a judicial sale, the court oversees the process to ensure fairness and legality.

Meaning

Judicial-sale refers to a process in which a court facilitates the sale of property, often to satisfy a legal judgment or debt. This might occur in situations such as foreclosures or the liquidation of assets in bankruptcy.