Writ Of Seizure And Sale
A court order that permits a creditor to instruct a sheriff to seize and sell assets/property of a debtor in order to payoff a debt. Investopedia Says:
To get the debtor's property sold, or to put a lien on it, the creditor must obtain a Writ of Seizure and Sale from a court. This is usually a final solution once all other options have been exhausted. Related Terms:
Collection Agency
Creditor
Debtor
Lien
Liquidation |