Also known as: TS-, ts.
TS has various meanings in the Property category. Discover the full forms, definitions, and usage contexts of TS in Property.
A Trustee Sale is a public auction where property is sold by a trustee to the highest bidder, typically as a result of a foreclosure process. This method is often used to recover the outstanding debt owed on the property when the borrower defaults on their loan. The process is governed by specific legal statutes to ensure fairness and transparency in the sale.
Trustee Sales are common in the real estate industry, especially in states that allow non-judicial foreclosures. These sales provide an opportunity for investors to purchase properties at potentially below-market prices. However, buyers must conduct thorough due diligence, as properties are usually sold 'as-is,' with no warranties or guarantees from the trustee or lender.
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