9:32
[kevin oleary]
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LSDefine
Simple English definitions for legal terms
compulsory sale
Read a random definition: individual proprietorship
A quick definition of compulsory sale:
A compulsory sale is when someone is forced to sell their property because of a court order or because they didn't pay their taxes. It's like when you have to give away your toys because your parents told you to or because you didn't take care of them. It's not a choice, you have to do it.A more thorough explanation:
Definition: A forced sale of real property due to an eminent-domain order or an order for a judicial sale arising from nonpayment of taxes.
Examples:
- If a property owner fails to pay their property taxes, the government may order a compulsory sale of the property to recover the unpaid taxes.
- If the government needs to build a new road and the property owner refuses to sell their land, the government may use eminent domain to force a sale of the property.
Explanation: Compulsory sale refers to the sale of property that is forced by law or court order. In the case of nonpayment of taxes, the government may sell the property to recover the unpaid taxes. In the case of eminent domain, the government may force a sale of the property to use it for public purposes. These examples illustrate how compulsory sales can occur due to legal or governmental actions.