Auctioning
/ˈɔːkʃənɪŋ/
Definitions
- (v.) The process of selling goods or property by offering them up for bid, typically to the highest bidder, often used in legal contexts such as foreclosure or estate sales.
The property was sold by auctioning after the owner defaulted on the mortgage.
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Commentary
Use 'auctioning' primarily to denote the act or process of conducting an auction, especially in legal transactions such as foreclosures or probate.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.