sequestrate

Concise Oxford English Dictionary © 2008 Oxford University Press:
sequestrate /ˈsiːkwəstreɪt, ˈsiːkwɛs-/

▶verb

• 1 take legal possession of (assets) until a debt has been paid or other claims have been met.

  ■ legally place (the property of a bankrupt) in the hands of a trustee for division among the creditors.

  ■ declare bankrupt.

• 2 take forcible possession of; confiscate.

– derivatives
sequestrable adjective,
sequestrator /ˈsiːkwɪˌstreɪtə/ noun.