Governments all around the world seize properties for a variety of reasons. Properties may include movable assets such as automobiles, immovable assets such as houses, lands and it can even be cash and other financial instruments. Governments mostly seize houses because of the owner of the property not meeting some legal obligation like non payment of dues. The property may also be seized if some kind of a serious crime has occurred in the house. They would surely return the property after the case is finished, but it may take a long time. Government and police seized property includes homes if it is used for some illegal activities such as smuggling.
The government in most cases won’t have the property with itself it auctions the property to the public. There would be some kind of government auction almost every month. The auction details would be advertised in the local news papers and classifieds. Most of the properties sold at these auctions would be of very low cost and the properties can be bought really cheap.
Posted under Property Auctions
This post was written by admin on March 14, 2014