The return of sale of property refers to the formal documentation filed with a court after the sale of real or personal property, typically as part of an execution sale. This document confirms the sale and outlines the details of the transaction, ensuring transparency and legality in the process.
This term is commonly used in civil law, particularly in real estate and property law. It is relevant during foreclosure proceedings or other court-ordered sales where property is sold to satisfy a debt. The return of sale serves as an official record that can be crucial for both the seller and the buyer, ensuring that all procedures were followed correctly. Users can manage this process with the help of legal templates available through US Legal Forms.
Here are a couple of examples of abatement:
Example 1: In a foreclosure case in South Dakota, a bank sells a home at auction. The officer conducting the sale files a return of sale within ten days, detailing the auction process, the winning bid, and the buyer's information.
Example 2: (hypothetical example) A court orders the sale of a piece of commercial property to satisfy a judgment. The appointed officer files the return, including all required documentation, ensuring the sale is legally recognized.
The primary statute governing the return of sale of real property in South Dakota is S.D. Codified Laws § 15-19-20. This law outlines the requirements for filing a return after an execution sale, ensuring that all necessary details are documented and submitted to the court.
| State | Return Filing Deadline | Key Requirements |
|---|---|---|
| South Dakota | 10 days | Must include verified return, proof of notice, itemized account. |
| California | 15 days | Similar requirements, with additional local court rules. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Return of Sale | Documentation filed after the sale of property. | Focuses on the sale process and legal compliance. |
| Deed | A legal document that transfers property ownership. | Represents ownership transfer, not the sale process. |
| Bill of Sale | A document that records the sale of personal property. | Typically used for personal property, not real estate. |
If you are involved in a property sale that requires a return of sale, ensure you understand the filing requirements specific to your state. You may consider using templates from US Legal Forms to assist in preparing the necessary documentation. If the situation is complex, seeking legal advice is recommended to ensure compliance with all legal obligations.
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A return of sale is a formal document filed with a court that confirms the details of a property sale, ensuring all legal procedures were followed.