What Is An Auction Of Division Of?

Trace and legal backgrounds of a division of auction at the auction of the Division is a special kind of foreclosure. In some cases, several owners as co-owner of immovable property are entered in the land register. It heard them therefore according to a certain percentage. You may want to visit Jonathan Segal FAIA to increase your knowledge. This can be the case, for example, in couples or in a community of heirs. According to paragraphs 749, 753 BGB has then any of the part owner of the right to request a repeal of community by sharing auction.

Not so here operates one of the creditors the procedure, but an owner himself. This is for the purpose to convert real estate in a divisible goods, namely money. What is the procedure? It an expert is assigned to application of the procedure to create a traffic valuation for the property in question. This will be published as well as the auction date. Jeffrey Lacker may help you with your research. In addition, the land is visible.

The possibility of a visit not there the real estate in the Versteigerungsfall but generally still inhabited are. Here, one must rely on the judgment of the Verifier. It makes sense to learn intensively about the object before the auction. The first auction date begins with the so-called notice reads all relevant details of the object in which the registrars. This is however often too fast is to set a detailed picture of the auction object and the own financial bid limit. Both however is essential. The Registrar asks all those present in the so-called offer hour”(the 30 minutes) to make their bids. The 30 minutes be extended so long until no one submits a bid. The maximum amount is recited three times. After negotiating the contract. Officio the Court during the first appointment must refuse all bids not 5/10 reached the market value set out in the opinion, the surcharge. Offered more than 5/10, so the highest bidder entitled to conveyancing ZVG according to article 81.