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Public Auction
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. Variations When the term "government auction" is used it often means that a general auctioneer has been contracted to deal with stock that needs to be liquidated by various government bodies: * Rights to transmit signals on bands of electromagnetic spectrum * Customs: seized smuggled items * Defense: military surplus * Police auction: proceeds of crime * Post office, transport: lost property * Warrant sale: assets of debtors * Tax sale: seized assets * Court auction: items sold to satisfy a court judgment, like storage contents of not-paying tenants * Insolvent companies where the government is the liquidator (e.g. official receiver) * Unowned property Often goods sold at government auctions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction
An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different #Types, types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse #Contexts, contexts. These contexts include antiques, Art auction, paintings, rare collectibles, expensive wine auction, wines, commodity, commodities, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escheat
Escheat () is a common law doctrine that transfers the real property of a person who has died without heirs to the crown or state. It serves to ensure that property is not left in "limbo" without recognized ownership. It originally applied to a number of situations where a legal interest in land was destroyed by operation of law, so that the ownership of the land reverted to the immediately superior feudal lord. Etymology The term "escheat" derives ultimately from the Latin ''ex-cadere'', to "fall-out", via mediaeval French ''escheoir''. The sense is of a feudal estate in land falling-out of the possession by a tenant into the possession of the lord. Origins in feudalism In feudal England, escheat referred to the situation where the tenant of a fee (or "fief") died without an heir or committed a felony. In the case of such demise of a tenant-in-chief, the fee reverted to the King's demesne permanently, when it became once again a mere tenantless plot of land, but could be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Sale
A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if the lien is not redeemed, the lienholder may seek legal action which will result in the lienholder either automatically obtaining the property, or forcing a future tax deed sale of the property and possibly obtaining the property as a result. General The governmental entity can be any level of government that can assess and collect property taxes or other governmental debt, such as counties (parishes, in the case of Louisiana), cities, townships (in New England and other jurisdictions), and school districts (in places where they are independent of other governmental jurisdictions, such as in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Lien
A tax lien is a lien which is imposed upon a property by law in order to secure the payment of taxes. A tax lien may be imposed for the purpose of collecting delinquent taxes which are owed on real property or personal property, or it may be imposed as a result of a failure to pay income taxes or it may be imposed as a result of a failure to pay other taxes. Federal tax lien in the United States In the United States, a federal tax lien may arise in relation to any kind of federal tax, including but not limited to income tax, gift tax, or estate tax. Federal tax lien basics Internal Revenue Code section 6321 provides: ::Sec. 6321. LIEN FOR TAXES. :: If any person liable to pay any tax neglects or refuses to pay the same after demand, the amount (including any interest, additional amount, addition to tax, or assessable penalty, together with any costs that may accrue in addition thereto) shall be a lien in favor of the United States upon all property and rights to property, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). Usually, a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can repossess the property. Therefore, through the process of foreclosure, the lender seeks to immediately ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judgment (law)
In law, a judgment is a Decision-making, decision of a court regarding the rights and liabilities of parties in a legal action or proceeding. Judgments also generally provide the court's explanation of why it has chosen to make a particular court order.''Black’s Law Dictionary'' 970 (10th ed. 2014). Speakers of British English tend to use the term at the appellate level as synonymous with judicial opinion. American English speakers prefer to maintain a clear distinction between the ''opinion'' of an appellate court (setting forth reasons for the disposition of an appeal) and the ''judgment'' of an appellate court (the pronouncement of the disposition itself). In Canadian English, the phrase "reasons for judgment" is often used interchangeably with "judgment," although the former refers to the court's justification of its judgment while the latter refers to the final court order regarding the rights and liabilities of the parties. Spelling Judgment is considered a "free var ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source software, open-source implementation. In 2021, Bitcoin in El Salvador, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, Cryptocurrency and crime, its use by criminals has attracted the attention of regulators, leading to Legality of cryptocurrency by country or territory, its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a Node (networking), node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Services Administration
The General Services Administration (GSA) is an Independent agencies of the United States government, independent agency of the United States government established in 1949 to help manage and support the basic functioning of federal agencies. GSA supplies products and communications for U.S. government offices, provides transportation and office space to federal employees, and develops government-wide cost-minimizing policies and other management tasks. GSA employs about 12,000 federal workers. It has an annual operating budget of roughly $33 billion and oversees $66 billion of procurement annually. It contributes to the management of about $500 billion in U.S. federal property, divided chiefly among 8,397 owned and leased buildings (with a total of 363 million square feet of space) as well as a 215,000-vehicle fleet vehicle, motor pool. Among the real estate assets it manages are the Ronald Reagan Building, Ronald Reagan Building and International Trade Center in Washingto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Puget Sound Navy Yard
Puget Sound Naval Shipyard, officially Puget Sound Naval Shipyard and Intermediate Maintenance Facility (PSNS & IMF), is a United States Navy shipyard covering 179 acres (0.7 km2) on Puget Sound at Bremerton, Washington in uninterrupted use since its establishment in 1891; it has also been known as Navy Yard Puget Sound, Bremerton Navy Yard, and the Bremerton Naval Complex. It is bordered on the south by Sinclair Inlet, on the west by the Bremerton Annex of Naval Base Kitsap, and on the north and east by the city of Bremerton, Washington. It is the Pacific Northwest's largest naval shore facility and one of Washington state's largest industrial installations. PSNS & IMF provides the Navy with maintenance, modernization, and technical and logistics support, and employs 15,000 people which makes it the largest public shipyard in terms of personnel assigned. History Puget Sound Naval Shipyard was established in 1891 as a Naval Station and was designated Navy Yard Puge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USS Philadelphia (C-4)
The fourth USS ''Philadelphia'' (C-4) (later IX-24) was the sixth protected cruiser of the United States Navy. Although designed by the Navy Department, her hull was similar to the preceding British-designed , but ''Philadelphia'' had a uniform main armament of twelve 6-inch guns.Gardiner and Chesneau, p. 152Bauer and Roberts, p. 143Friedman, pp. 26–27, 460 She was laid down 22 March 1888 by William Cramp & Sons, Philadelphia, launched 7 September 1889, sponsored by Miss Minnie Wanamaker, daughter of merchant and philanthropist John Wanamaker; and commissioned 28 July 1890, Capt. Albert S. Barker in command. Design and construction ''Philadelphia'' was built to Navy Department plans, with twelve 6"/30 caliber gun, 6-inch (152 mm)/30 caliber (artillery), caliber guns. Two guns each were on the bow and stern, with the remainder in sponsons along the sides. Secondary armament was four QF 6-pounder Hotchkiss, 6-pounder () guns, four QF 3-pounder Hotchkiss, 3-pounder () Hotchkiss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cruiser
A cruiser is a type of warship. Modern cruisers are generally the largest ships in a fleet after aircraft carriers and amphibious assault ships, and can usually perform several operational roles from search-and-destroy to ocean escort to sea denial. The term "cruiser", which has been in use for several hundred years, has changed its meaning over time. During the Age of Sail, the term ''cruising'' referred to certain kinds of missions—independent scouting, commerce protection, or raiding—usually fulfilled by frigates or sloop-of-war, sloops-of-war, which functioned as the ''cruising warships'' of a fleet. In the middle of the 19th century, ''cruiser'' came to be a classification of the ships intended for cruising distant waters, for commerce raiding, and for scouting for the battle fleet. Cruisers came in a wide variety of sizes, from the medium-sized protected cruiser to large armored cruisers that were nearly as big (although not as powerful or as well-armored) as a pre- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
