The judicial auction is a procedure for the forced disposal of an asset, for the payment of a debt.
Involves the realization of the debtor's assets previously seized, with the aim of settling the non-payment. There must be a court ruling that orders it.
In legal terms, the auction of real estate is defined as the process of execution of real estate, after issuing the certification of ownership and charges and providing the title, with communication to subsequent creditors, carrying out the appraisal and announcing the auction, by awarding the property to the highest bidder or to the performer.
Learn more details about this procedure in our article Judicial Auction. Characteristics and Procedure.
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