What is a judicial sale?

A judicial sale refers to a court-ordered sale of property, which is typically conducted to satisfy a legal judgment or to enforce a lien. This process ensures that the sale is conducted in a manner that is transparent and fair, often involving a public auction where the property is sold to the highest bidder. Judicial sales are used when the property owner has failed to meet certain obligations, such as non-payment of debts or taxes, and the court intervenes to facilitate the sale in accordance with legal procedures.

This type of sale tends to follow specific statutory requirements, and the proceeds from the sale are usually applied to pay off debts or fulfill other legal obligations. Such a sale guarantees that all interested parties are informed and that the sale is carried out under judicial supervision, which helps in protecting the rights of all parties involved.