Forced sale
A sale of an asset brought about by legal or creditor enforcement rather than by the owner’s ordinary choice.
Related terms
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Mortgagor
The borrower or property owner who grants a mortgage over property as security for a debt.
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Possession proceedings
Court proceedings brought by a lender, landlord or other entitled party seeking possession of property.
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Second charge
Security registered behind a first charge over the same asset, meaning the second-charge lender is normally paid after the first-charge lender from sale proceeds.
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