Seized property, sheriff to determine fair value of
66 Seized property, sheriff to determine fair value of
Before selling a judgment debtor’s saleable interest in personal or real property under a property (seizure and sale) order, the sheriff must take reasonable steps to determine a fair value for the interest.
For the purposes of determining a fair value the sheriff may —
request the judgment debtor to provide the sheriff with such information relevant to the value of the interest as is known to the debtor or is reasonably capable of being ascertained by the debtor;
if the nature and apparent value of the interest is such that it is reasonable to do so, engage a suitably qualified and experienced person to give the sheriff a written valuation of the interest.
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