What does BID IN mean?

BID IN meaning in Law Dictionary

Property marketed at auction is said to be "bid in" by the owner or an incumbrancer or somebody else that is contemplating it, when he attends the sale and helps make the successful quote.

Sentence Examples with the word BID IN

In default of payment of arrears of rent Cosby's Manor was sold at sheriff's sale in 1792 and was bid in by General Philip Schuyler, General John Bradstreet, John Morin Scott and others for X1387, or about 15 cents an acre.

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