Judicial auctions

Judicial auctions are a means to carry out forced sales of foreclosed assets. The law provides that if a private citizen or a society have outstanding debts, their properties – movable or immovable assets – can be subject to forced sale. Regulations establish the obligation to publish the notice of sale, the Court order and the estimate report (appraisal) on the dedicated websites at least forty-five days before the final date for submission of tenders or forty-five days before the date of the auction.