execution sale

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Word: Execution Sale

Part of Speech: Noun

Definition: An "execution sale" is a type of sale where property is sold by a sheriff or another official. This happens under the authority of a court order, called a "writ of execution." The purpose of this sale is to pay off a debt or obligation that hasn’t been paid.

Explanation:

Imagine someone owes money and cannot pay it back. A creditor (the person to whom the money is owed) can go to court to get permission to sell the debtor's property. The court issues a writ of execution, allowing the sheriff to conduct the sale. The money made from selling the property goes to the creditor to help cover the unpaid debt.

Usage Instructions:

• Use "execution sale" when discussing legal processes related to debt recovery and property sales.
• It is often used in financial, legal, or real estate contexts.

Example Sentences:

1. "After the homeowner failed to make mortgage payments, the bank requested an execution sale of the property."
2. "At the execution sale, many bidders were interested in the valuable items that were being sold to settle debts."

Advanced Usage:

In more technical discussions, "execution sale" might be used in phrases like “judicial sale,” which refers to the legal process that includes execution sales. It can also be found in discussions about bankruptcy law or property law.

Word Variants:

• Execution (noun): The act of carrying out a plan or order.
• Sale (noun): The exchange of goods or services for money.

Different Meanings:

• Execution (general): The act of carrying out a task or plan.
• Sale (general): The action of selling something.

Synonyms:

• Judicial sale
• Foreclosure sale (in the context of real estate)
• Forced sale

Related Idioms and Phrasal Verbs:

• "Sell off": To sell something quickly, often at a lower price.

  • Example: "The company had to sell off its assets to pay creditors."

• "Pay off": To settle a debt by making a payment.

  • Example: "He worked hard to pay off his student loans."

Summary:

In summary, an execution sale is a legal process for selling property to repay a debt. It is important in contexts involving finance and law.

Academic

Noun

1. a sale of property by the sheriff under authority of a court's writ of execution in order satisfy an unpaid obligation

Synonyms

• sheriff's sale
• judicial sale
• forced sale