The sale without auction

The sale without auction after the reform of art. 569 cpc by the dl 132/2014 converted into Law 162/2014 (decree of reform of the justice) has become the process priority for the award of a property auctioned.

In the sale without auction participants (anyone other than the debtor) may submit bids (in person or by proxy) in a sealed envelope with the Clerk of Seizures or Stationery Bankruptcy competent (in the case of bankruptcy sales) or more often if as most often happens now, has been delegated a professional, at the office of the same professional usually within 12 of the working day prior to the sale (The place and time for submission of the offer instructions should always be checked in ‘order for sale).

Being the sealed bid and irrevocable shall not be affixed to any indication by the bidder on the envelope.

The offer

The offer must contain:

  1.     name, location, date of birth, social security number, address, marital status and telephone number of the individual who will intestate property (the property can not be made payable to someone other than the one who signs the offer, unless offer a means of attorney) who will have to appear at the hearing fixed for the sale; if those who make the offer is married under the joint estate assets, will also be communicated the data of the spouse; if those making the offer is a minor, the same must be signed by parents previously authorized by the probate judge; if those who make the offer is representing another person, must attach the power of attorney or the appointment act that justifies the powers;
  2. the identification data of the property for which it is provided; the indication of the price offered, (which obviously can not be less than the minimum price specified in the notice of sale); the express statement that I have read the appraisal.
  3. the offer is effective if the bidder does not pay bail, in the manner specified in the order for sale, for no less than a tenth of the price he offered.

Upon filing of the offer by the Registrar or professional delegate (almost always the second) will undertake to make a note on the outside of the envelope: the name, after identification, who shall deposit the material (which can also be party other than the ‘agent); the name of the judge or in case of delegation, the name of the professional executive officer, and the date of sale.

Awarding Methods

The envelopes are opened at the hearing fixed for the examination of tenders in the presence of the tenderers.

  1.     The well will be awarded to those who have made the highest bid; (In the case of the race the extent of stimulus should be in accordance with what is explicitly stated in the order for sale).
  2. The award is final if the offer is higher than a fifth to the estimated value of the property (if not, the judge could theoretically give rise to the charm in the very unlikely event that thought possible with this system sales reach a higher price to 50% of that of estimation).
  3. If several bidders (and who has not reached the price higher than a fifth to the estimated value of the property indicated sub n. 2) is a call for competition between them which is based auction the value of the offer highest presented.

If awarded the contractor is required to pay the balance of the price and the expenses, fees and expenses of sale within the time and in the manner specified in the order.

In case of default, the award will be revoked and the successful bidder will lose the deposit paid as a fine in accordance with art. 587 cpc and if the new award is less, also considered the security confiscated at the price of that which it has not fulfilled its obligations, the defaulting contractor will be required to pay the difference as well !!!

The Inside and expert knowledge of real estate law, in which this study has specialized (we are probably the only studio that operates throughout the country to deal exclusively in real estate law as can be inferred from reading our website at “Who We are) allows us to get to our customers, all appropriate and adequate safeguards, both in and out of court, both in the auction in case of investment in the ordinary market, also face issues that may appear extremely complex.
To learn even the secular history of the study is to read the page The Firm – Lawyers since 1880″
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