foreclosure auction
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foreclosure auction
A legal procedure in which a debtor's immovable property (e.g., a house or plot of land) is publicly auctioned off in order to use the proceeds to settle the creditors' claims.
Weil sie ihre Kreditraten nicht mehr zahlen konnten, kam ihr Haus in die Zwangsversteigerung.
Because they could no longer pay their loan installments, their house went into foreclosure auction.
The word is made up of three parts: 'Zwang' (compulsion, force), the linking -s, and 'Versteigerung' (auction). So it literally describes an 'erzwungene Versteigerung' (forced auction).
Eine Zwangsversteigerung ist die letzte Maßnahme, um Schulden einzutreiben.
A foreclosure auction is the last measure for collecting debts.
This noun is often used with fixed verbs and prepositions. Typical phrases are 'etwas kommt in die Zwangsversteigerung' (something goes into foreclosure auction) or 'ein Haus bei einer Zwangsversteigerung kaufen' (to buy a house at a foreclosure auction).
Das Nachbarhaus kommt bald in die Zwangsversteigerung.
The house next door will soon go into foreclosure auction.
'Zwangsversteigerung' (foreclosure auction) is a term from legal and financial language. You mainly find it in official documents, news reports, or conversations about debts and real estate.
Im Amtsblatt wurde die Zwangsversteigerung des Grundstücks bekannt gegeben.
The foreclosure auction of the property was announced in the official gazette.
