Writ Of Seizure And Sale

AAA

DEFINITION of 'Writ Of Seizure And Sale'

An order issued by a court that allows the petitioner (usually a creditor) ownership of certain property and the ability to sell it once it has taken possession. Writs of seizure and sale are used to take possession of property when a borrower is in default and allows the petitioner to use the assistance of law enforcement in seizing the property.

INVESTOPEDIA EXPLAINS 'Writ Of Seizure And Sale'

A writ of seizure and sale can't be obtained after a few missed payments. Instead, it's an aggressive move made when a borrower has ignored all other attempts at collection and defaulted on a debt.

Seized property may be sold at a low price in order to quickly recoup some losses.

RELATED TERMS
  1. Government-Owned Property

    Assets owned by federal, state or local governments. This may ...
  2. Set-Off Clause

    A legal clause that gives a lender the authority to seize a debtor's ...
  3. External Claim

    A claim against an individual that does not arise out of any ...
  4. Creditor

    An entity (person or institution) that extends credit by giving ...
  5. Debtor

    A company or individual who owes money. If the debt is in the ...
  6. Lien

    The legal right of a creditor to sell the collateral property ...
Related Articles
  1. Retirement

    Is a Locked-in Retirement Account (LIRA) protected from creditors?

    Learn about how Canadian registered pension and retirement plans are protected from creditors under federal and provincial legislation.
  2. Personal Finance

    Outfox The Debt Collector's Hounds

    Dealing with a collection agency is scary if you don't know your rights. We help you take back the power.
  3. Credit & Loans

    Digging Out Of Personal Debt

    Find out why good intentions can put consumers in an even bigger hole than before.
  4. Personal Finance

    Dawn Of The Zombie Debt

    Are old debts coming back to haunt you? We'll show you how to keep these zombies from eating you alive.
  5. Options & Futures

    What are the most common momentum oscillators used in options trading?

    Read about some of the most common technical momentum oscillators that options traders use, and learn why momentum is a critical concept for options trading.
  6. Options & Futures

    How are Bollinger Bands® used in options trading?

    Use Bollinger Bands to identify volatility changes and place options trades at the right time; profit in bull or bear markets using these strategies.
  7. Watch for these signs that you or an elderly family member may need to downsize and move somewhere easier to manange. A senior move manager can help.
    Retirement

    Time To Hire A Senior Move Manager?

    Watch for these signs that you or an elderly family member may need to downsize and move somewhere easier to manange. A senior move manager can help.
  8. As Americans age – and families try to cope – the new field of senior move managers helps seniors relocate to safer homes with the least possible stress.
    Retirement

    A New Solution To Help Seniors Relocate

    As Americans age – and families try to cope – the new field of senior move managers helps seniors relocate to safer homes with the least possible stress.
  9. Options & Futures

    Stock Futures vs Stock Options

    A full analysis of when is it better to trade stock futures vs when is it better to trade options on a particular stock. A quick overview of how each of them works and why would a trader, investor, ...
  10. First time stock investors may ask, is there any way to buy insurance on stocks to prevent losses?
    Options & Futures

    Stock Safety: Top 3 Ways to Limit Your Losses

    First time stock investors may ask, is there any way to buy insurance on stocks to prevent losses?

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center