Pre-Judgement Sales explained

 

This is a new and exciting pilot project through which a defendant is given the opportunity to present his/her property for sale by public auction, prior to judgement being granted against the defendant. Prior to granting of such a judgement, the court may instruct a Sheriff to attach and sell the defendant’s property unless the judgement amount is settled. The proposed project is aimed at achieving the following goals:

 

  1. Selling the defendant’s property without any costs to the defendant, or plaintiff, on conditions of sale which allow for a 7 (seven) court day confirmation period to be afforded to both parties to consider the highest bid achieved at the sale.
     

  2. This procedure will nullify the need for the plaintiff to seek judgment against the defendant as a successful Pre-Judgement Sale would see the property being transferred by the attorney of record to a purchaser. As a result, the defendant’s credit record will not be burdened and compromised by a judgement. A successful Pre-Judgement sale refers to a sale where the plaintiff and defendant has accepted the highest purchase price offered (either privately or by means of a Live Webcast auction).
     

  3. Creating a window of opportunity for a defendant to reconsider his/her position, affording him/her the opportunity to sell his/her property.
     

  4. Empowering defendants to participate in the process, previously reserved only for the legally astute defendant, and which enables them, to a certain extent, to determine the outcome of their choices.
     

  5. The attorneys of record will be continually engaged to protect and enhance the Plaintiff’s interests. Development of this procedure will continue as it progresses, always remaining mindful of the rights and needs of defendants and all other parties involved, the judiciary included.

 

We thank you for participating in this project.