What is a Writ of Seizure And Sale?
A writ of seizure and sale is issued by a court when a borrower goes into default and the attempts by the creditor to get repayment for the loan failed. When the court grants a creditor or petitioner a writ of seizure, the creditor gains ownership of some of the properties of debtor that is equivalent to the debt owed. Once a creditor takes possession of a property, it can be sold off to make repayment for the debt owed. The petitioner that is granted a writ of seizure and sale can execute the court order with the help of a law enforcement officer or a sheriff.
How is a Writ Of Seizure And Sale Used?
The court only issued a writ of seizure and sale to a creditor or petitioner after all attempts to collect the debt have failed. A creditor cannot turn to the court to obtain a writ of seizure and sale after only a few attempts have been made, rather, there must have been several and frequent attempts that were all ignored by the debtor. A petitioner who has obtained a writ of seizure has the right to take possession of the property of the debtor, the creditor can sell the property at a low price to quickly recover the losses made. The judgment debtor might not be given any notice before the writ is executed.
Related Topics
- Civil Litigation Procedure (Intro)
- What is a civil lawsuit or civil action?
- Who are the parties to a lawsuit?
- What is standing to sue?
- Venue
- What is personal jurisdiction?
- What is a class action?
- What are the pleadings?
- What is discovery?
- What is the scope of discovery?
- What are motions and how are they used?
- What are frivolous cases?
- Barratry
- What is the process of selecting a jury?
- What are the steps involved in a civil trial?
- What is the burden of proof in a civil trial?
- How is a civil trial decided?
- Adjudication
- Default Judgment
- Stipulated Judgment
- Equitable Defenses
- Equitable Relief
- Doctrine of Clean Hands
- Compensatory Damages
- Punitive Damages
- Replevin
- What is joint and several liability?
- Judgment Proof
- What is the process for appeal?
- Amicus Curiae Brief
- How do parties enforce a civil judgment?
- Levy
- Garnishment
- Writ of Attachment
- Writ of Execution
- Writ of Seizure and Sale
- Sheriff’s Sale
- What is res judicata
