Execution: Sale of Personal Property

Question 1

Sale of Personal Property

Answer 1

Once sheriff levies on a particular piece of property, judgment creditor can proceed with a sale of that piece of property IMMEDIATELY

Question 2

Sale of Personal Property: Notice

Answer 2

Notice of time and place of sale must be given for AT LEAST 10 SUCCESSIVE DAYS by posting written notice in 3 PUBLIC PLACES in the town where the sale is to be conducted

Question 3

Sale of Personal Property: Procedure

Answer 3

Personal property must be:

(1) PRESENT at sale; and
(2) Sold at PUBLIC AUCTION

Question 4

Sale of Personal Property: Redemption

Answer 4

Debtor MAY NOT redeem (purchase) personal property from the person who bought the property at the auction

Question 5

Sale of Personal Property: Distribution of Proceeds

Answer 5

In this order:

(1) Costs of sale
(2) Judgment creditor
(3) Creditors with subordinate liens
(4) Debtor

Question 6

Sale of Personal Property: If Property Does Not Sell

Answer 6

Sheriff returns writ of execution

Judgment lien on the property continues for 30 days