S
Legal
Sequestration
The legal process of declaring bankruptcy in South Africa. A court orders your estate to be surrendered and your assets sold to repay creditors. Sequestration remains on your credit record for up to 10 years.
Usage Examples
"After sequestration, all his assets including his car were sold to pay creditors."
"Sequestration should be a last resort — it stays on your credit record for a decade."