What is the sale by judicial authority?

The sale by judicial authority takes place when the creditor, rather than to sell himself, calls on to the court so that the latter designates the person who will proceed to it, determines the mode of sale (by agreement, by way of a call for tenders or an auction sale), the conditions and charges of the sale and, if it considers it appropriate, determines, after having inquired about the value of the property, the upset price.

The person in charge of selling the property, the designated person, must follow the rules relative to the sale of the property of others stipulated in the Code of Civil Procedure.

He acts on behalf of the owner and he is required to make known his quality to the purchaser. The designated person acts as a legal mandatary of the owner who always remains the real seller. The designated person, following the sale, will have to prepare a scheme of collocation and proceed to the distribution of the funds resulting from the sale.