Forced auction - Zwangsversteigerung

Japanese: 強制競売 - きょうせいけいばい（英語表記）Zwangsversteigerung

A type of forced execution method for real estate. Based on the creditor's petition, the court issues a decision to commence a forced auction and seizes the property. Then, on the day of the auction, the bailiff will have the property sold by bidding, auction, or by a method prescribed by the Supreme Court Rules, and the highest bidder among the bidders will be selected and a decision will be made to allow the sale to that bidder. This will eliminate any encumbrances such as mortgages that previously existed on the property, and the successful bidder will acquire ownership of the property. The court will then distribute the purchase price of the property paid by the bidder to the creditor, completing the procedure.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

不動産に対する強制執行の方法の一種。債権者の申立てに基づき裁判所が強制競売開始決定を行なって目的物を差押える。そして競売期日に執行官をして入札，競り売りまたは最高裁判所規則の定める方法で売却させ，買受人のなかの最高価買受申出人を定め，その者に対して売却許可決定をする。これによって従来不動産上に存在した抵当権などの負担は消滅し，競落人は不動産の所有権を取得する。さらに裁判所は，買受人から払われた不動産の代金を債権者に配当して，手続を終了する。

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