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. Lien

    The legal right of a creditor to sell the collateral property ...
  5. Creditor

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

    A company or individual who owes money. If the debt is in the ...
RELATED FAQS
  1. Is a Locked-in Retirement Account (LIRA) protected from creditors?

    As of 2014, Locked-in Retirement Accounts are protected from creditors. The only exceptions are judicial orders for spousal ... Read Full Answer >>
  2. What kinds of financial instruments are designated as “Securities” by Cabinet Order?

    In Japan, securities are regulated by the Diet and the Financial Services Agency, or FSA. Rulings about securities come down ... Read Full Answer >>
  3. Why would a company issue a rights offering?

    Companies most commonly issue a rights offering to raise additional capital. A company may need extra capital to meet its ... Read Full Answer >>
  4. What is the difference between share purchase rights and options?

    There is a big difference between share purchase rights and options. With share purchase rights, the holder may or may not ... Read Full Answer >>
  5. What is the difference between an option-adjusted spread and a Z-spread in reference ...

    Unlike the Z-spread calculation, the option-adjusted spread takes into account how the embedded option in a bond can change ... Read Full Answer >>
  6. In what ways can a sinking fund affect bond returns?

    The effective yield of a bond sinking fund to an investor should not be considered similar to a bond nonsinking fund. Both ... Read Full Answer >>
Related Articles
  1. 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.
  2. Credit & Loans

    Digging Out Of Personal Debt

    Find out why good intentions can put consumers in an even bigger hole than before.
  3. 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.
  4. Personal Finance

    Commercial Real Estate: How it Works

    The ins and outs of what commercial real estate companies do.
  5. Investing

    What More Volatility Means For Momentum Stocks

    One byproduct of the recent tick higher in bond yields: a meaningful rise in volatility for both stocks and bonds.
  6. Options & Futures

    How & Why Interest Rates Affect Options

    The Fed is expected to change interest rates soon. We explain how a change in interest rates impacts option valuations.
  7. Home & Auto

    Swimming Pools: Costs Vs. Long-Term Value

    Consider the costs of installing and maintaining a swimming pool, and compare this with the pool's utility and the market value it adds to your home.
  8. Investing Basics

    Understanding Notional Value

    This term is commonly used in the options, futures and currency markets because a very small amount of invested money can control a large position.
  9. Options & Futures

    The Risks Of Writing Covered Calls

    While writing a covered call option is less risky than writing a naked call option, the strategy is not entirely riskfree.
  10. Options & Futures

    How Low Can Oil Prices Go?

    Record low oil prices are a welcome development for consumers, but oil companies are struggling with choosing market share over profitability.

You May Also Like

Hot Definitions
  1. Butterfly Spread

    A neutral option strategy combining bull and bear spreads. Butterfly spreads use four option contracts with the same expiration ...
  2. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
  3. Moving Average - MA

    A widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random ...
  4. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  5. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  6. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
Trading Center