judicial sale

A judicial sale is a legal process where a court orders the sale of a property, typically because the owner hasn't paid debts or fulfilled obligations. This sale is conducted to settle the debt by converting the property into cash. The process is formal, with notice given to interested parties, and the property is usually sold at auction to the highest bidder. The proceeds are then used to pay the creditor or satisfy court judgments. Judicial sales ensure a fair and legal method of resolving debts involving property, protecting the rights of both debtors and creditors.