distressed property

distressed property
USA
Real property that is subject to a foreclosure action or a pending foreclosure action. Sometimes distressed property can also be real property that is subject to pressures operating on the owner other than a pending foreclosure, such as a divorce, settlement of an estate or fear of economic changes. Distressed property usually has a reduced market price.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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