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Home » Law Dictionary » F » FORCED SALE

FORCED SALE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A sale that is made pursuant to an order and against the seller’s wishes, e.g. as part of an order of a bankruptcy court to sell an asset for the purpose of distributing the proceeds to creditors. Where a court order provides for the sale of goods by a creditor, typically occurring where a company declares bankruptcy and the creditors force sales of the remaining assets to pay off debts. In practice. A sale made at the time and in the manner prescribed by law, in virtue of execution issued on a judgment already rendered by a court of competent jurisdiction; a sale made under the process of the court, and in the mode prescribed by law. A forced sale is a sale against the consent of the owner. The term should not be deemed to embrace a sale under a power in a mortgage. Patterson v. Taylor, 15 Fla. 336.

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