What is the difference between a voluntary sale and a forced sale?

The main difference between a voluntary sale and a forced sale in North Carolina is that a voluntary sale is an agreement between two or more parties, whereas a forced sale is imposed by the government. A voluntary sale occurs when two or more parties agree on and sign a contract for the sale of a property. Both parties must consent to the sale for it to be valid. This type of sale is commonly seen when a person wants to sell their house. The seller and the buyer agree on a price, and the buyer pays that amount in exchange for the property. On the other hand, a forced sale is imposed by the government and is also known as eminent domain. This type of sale is used to acquire private property for public use, such as roads, power lines, and hospitals. The government must follow certain procedures when using eminent domain. There must be a proper legal justification and the owner must be offered fair compensation. Even though the property is being taken, the owner still has legal rights and is entitled to receive some form of payment. In conclusion, a voluntary sale is an agreement between two or more parties, while a forced sale is an acquisition by the government using eminent domain. Each has their own legal procedure, and the owner of the property is entitled to receive fair compensation for the sale.

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What is the difference between a voluntary sale and a forced sale?

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