In law, sequestration is the act of removing, separating, or seizing anything from the possession of its owner under process of law for the benefit of creditors or the state.
Sequester: 1. In medicine, to set apart, detach or separate a small portion of tissue from the rest. May be naturally occurring or iatrogenic. 2. In bone, for a piece of dead bone to separate from the sound bone.
1. Process of removing property from its possessor, pending the outcome of a judicial dispute between multiple parties who claim ownership. 2. Judicially ordered seizure of goods, as from a bankrupt party, or a person who acts in contempt of court.
The process of forming coordination complexes of an ion in solution. Sequestration often involves the formation of chelate complexes, and is used to prevent the chemical effect of an ion without removing it from the solution (e.g. the sequestration of Ca2+ ions in water softening).
It is certainly a good idea if you do not wish to end up with additional debt and no property after the bank has foreclosed on the property. Sequestration is also a good idea if you owe more money than is possible to pay back within five years should you choose the debt review path.
Sequestrations are the legal processes whereby creditors apply for debtors to be declared bankrupt or whereby insolvent parties apply to be declared bankrupt.
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