Judicial Sale In Nigeria

1. Introduction:

Judicial sale exists in every Jurisdiction globally. It is a forced sale conducted under the authority of a Court judgment or Court order¹; this legal concept is applicable in almost every field of law. While there are many purposes for Judicial Sale in law, the most common is Debt Recovery. How this works is, if Mr. A owes Mr. B $5,000 and Mr. B has refused to pay, Mr. A can apply to the Court to sell a piece of land owned by Mr. B and the proceeds thereof used to satisfy the outstanding sum or part of the $5,000.

• Types of Judicial Sale:

Judicial sales are ordered by way of an interlocutory order or executory judgment, either during Litigation or upon completion of the Matter when Judgement is given. When done pendente lite (during Litigation), it simply means that a Claimant/Plaintiff has made an Application for the sale of the Res before the Court makes its final decision in the Debt recovery suit. Otherwise, the Claimant may decide to