The judicial auction is a procedure of forced disposal of assets, ordered by court judgment, and allows a debtor to pay the amount of the debt claimed. Different types of goods can be auctioned: real estate, movable goods (jewelry, paintings, machinery, etc.), vehicles, as well as any other kind of goods or rights that have economic value.
It is regulated in the Civil Procedure Law (LEC), contained in Title IV of the monetary executions, within the enforcement procedures, having a specific regulation depending on whether it is an auction of movable or immovable property.
Since the entry into force of Law 19/2015, of July 13, on administrative reform measures in the area of the Administration of Justice and Civil Registry, all auctions are carried out telematically through the single portal for judicial and administrative auctions in the State Agency Official State Gazette (BOE).
The following conditions must be met for the judicial auction to take place:
In the event that the seized goods are movable goods:
In the event that the seized assets are real estate:
Call for judicial auctions:
If, for example, no one appears at the auction and only the creditor participates, the auction will be declared deserted and the creditor may request the award of the auctioned property. However, the price you will be able to ask for it will depend on the type of asset being auctioned:
It should be noted that in the event that other bidders participate in the auction, the Law allows the Counsel for the Administration of Justice not to approve the sale of the real estate if less than half of its value is offered (or 60% or 70% if it is the debtor’s habitual residence) and if it is movable property, when less than 30% of the value of the property is offered for auction purposes.
To participate in an auction it will be necessary: