trustee's sale

trustee's sale definition - business

trustee's sale

The public sale by a trustee of property in foreclosure. The appointed trustee distributes proceeds of the sale to creditors holding unpaid debts.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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