• Civil Code

    August 8, 2016 // Comments Off on Civil Code

    Article 670 of the LEC) and favoring the mortgagee auction by an amount greater than 50% of the appraised value or, still less, cover, at least, the amount by which the execution is dispensed including the forecast for interest and costs (cf. Article 670.4(, third subparagraph of the LEC). Effectively, these and other reasons account for the lack of competition of bidders to judicial auctions mortgage carries a serious prejudice to the mortgagor, that look like the mortgaged estate is finally adjudicated by the minimum price and based on the patrimonial universal responsibility that informs our Patrimonial law ex Article 1911 of the Civil Code, will be pursued any other good of the mortgagor to respond the amount not covered with the price of the auction. What is the solution to maximize the selling price of the auctioned property obtain? The clerk of the Court, competent official to perform a correct appraisal of the property mortgaged for purposes of auction has a lot to say. Usually occurs the disapplication of the deduction of charges of the auctioned asset valuation, to determine the type of output, constrinendo to that fixed ad hoc in the articles of incorporation of the mortgage, provided for in article 666 of the LEC: real estate will be auctioned by the value that is deducted from your assessment, conducted in accordance with the provisions in articles 637 and following of this Act, the amount of all duties and charges prior to the Lien by which enforcement whose preference resulting from the domain registration certification had been dispatched and charges. This operation is performed by the clerk discounting of the value that has been assessed the property total amount guaranteed resulting from the certification of charges or, where appropriate, which have been entered in the register pursuant to the provisions in paragraph 2 of Article 657. Indeed, one of the innovations introduced by law 1/2000 of Civil procedure in relation to the enforcement of real estate is the deduction of the appraisal of the amount of existing burdens to determine the value by which goods have come to auction; as the explanatory memorandum of the procedural act is expressed: the call of the auction, especially when the case of real estate, is regulated so that is more indicative of the value of the asset. .

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