Part Fourth: Sale Procedures

Article 921

Article 921 - Within five days from the date of the seizure report, the President of the Execution Division shall order the sale of the seized property by public auction.

Article 922

The sale shall take place at the location where the seized funds are present or at the nearest market or at any other place designated by the Head of the Execution Department.

Article 923

If the seized funds are susceptible to damage or to fluctuations in prices, the President of the Execution Department shall, upon the request of the concerned parties or the custodian, decide to sell them from one hour to the next by the method he deems appropriate and without being necessarily bound by the procedures stipulated in this Section.

Article 924

Article 924 - The execution officer shall fix a date and time for the sale and shall announce the sale by publication in daily newspapers and the Official Gazette and by posting on walls in the city center or...

Article 925

1. The president of the execution department shall determine the number of notices and advertisements in relation to the value of the seized assets and shall designate the daily newspapers, and he may suffice with the posting procedure if the value does not exceed one million Lebanese pounds.

Article 926

1. It is permissible to entrust the village mayors with posting announcements in the designated places.

Article 927

The affixing shall be proved by a certificate from the enforcement officer or the direct officer or the town's delegate, and the publication shall be proved by submitting a copy of the newspaper.

Article 928

Article 928 (as amended) - If the execution officer values the seized property at one hundred sixty thousand Lebanese pounds and the seized party does not contest this valuation, the valuation shall be sufficient, otherwise an expert shall be appointed...

Article 929

1. Gold and silver items and precious jewelry shall be weighed with precision and their value estimated by an expert, and the value of antiques shall also be estimated. The estimated value shall be indicated in the sale announcements. They shall not be sold at a price less than nine-tenths of this value.

Article 930

1. The enforcement officer shall initiate the auction procedures at the designated time and place and shall award the funds to the last bidder who pays the highest price. 2. The assistance of a municipal broker or any other broker chosen by the enforcement officer may be sought, and their fee shall be determined from the proceeds of the sale and shall be considered as part of the enforcement expenses. 3. The enforcement officer shall draw up a record of all the procedures that took place before him, including the name of each bidder and the price reached for each item or each lot.

Article 931

Article 931 - If no bidders appear at the appointed bidding time, the President of the Execution Division shall determine the reduction in the reserve price and shall adjourn the sale date for fifteen days to be publicly announced...

Article 932

1. The purchase price shall be paid immediately, and the enforcement officer may not grant the buyer any deadline.

Article 933

If the buyer refrains from or is unable to pay the price, the sequestered funds shall be put up for sale again under his guarantee, and the auction shall take place immediately if possible. The defaulting buyer shall bear the difference between the price he offered and the final price paid, along with the additional expenses he caused. The sale deed shall be considered an executive instrument against him for the price difference and the aforementioned expenses. The defaulting buyer shall not benefit from any increase in the price.

Article 934

Article 934 - Sale shall terminate when the proceeds reach an amount sufficient to pay the costs, the creditor's claim and those participating in the seizure, and the sale proceeds shall be applied to debt payment and the seizure shall end on...

Article 935

1. Whoever purchases in good faith a movable asset in an auction and pays the price becomes its definitive owner, subject to the provisions of Article 306, paragraph 1.

Article 936

If the garnishee is prevented from pursuing the execution proceedings despite being notified by the Execution Department of the receipt of a request from a participant in the garnishment to pursue these proceedings, and five days have passed since he received this notification, it is permissible for this participant, by a decision of the Head of the Execution Department, to replace the garnishee in pursuing the execution. This replacement shall be notified to the garnished party.