Part Third: Auction Session

Article 969

The enforcement officer shall draw up a summary of the conditions register in the form of a notice stating: 1 - The identity of the enforcing party and the party against whom enforcement is made, and the residence of each. 2 - The date of seizure and the date of its registration in the real estate register or the special register related to real estates not subject to the real estate registration system or the Mukhtar's register or the minutes of determination and drafting before the real estate judge, and the amount of the debt claimed. 3 - A statement of the seized property or properties and the auction price allocated to each. 4 - The date of the auction by month and day and hour and the place of its conduct designated by a decision of the head of the enforcement department. 5 - The expenses that must be paid in addition to the auction price, as estimated by the head of the enforcement department.

Article 970

The head of the execution division orders the announcement to be published in two daily newspapers which he designates and in the Official Gazette and posted in the following places: 1. The announcement board at the execution division. 2. The premises of the municipality within which the property is located. 3. The property itself if it is accessible.

Article 971

The announcement shall be published and posted at least ten days prior to the date of the auction session. It is permissible to entrust the village mayors with the posting of announcements in the designated places.

Article 972

Publication is proven by producing a copy of the issue of the newspaper containing the announcement, and affixing is proven by a certificate from the enforcement officer, the executor, or the village mayor.

Article 973

Every person wishing to participate in the auction is required: 1. To deposit in the name of the head of the execution division before commencing the bidding at the state treasury or one of the acceptable banks a sum equal to one quarter of the opening bid price. 2. To submit a declaration containing his identity and address.

Article 974

1. The creditor whose debt is not less than the value of the auctioned item shall be exempt from the requirement of deposit or guarantee. 2. If the value of his debt is less than the value of the auctioned item, he shall be required to deposit the difference or provide a guarantee for it, provided that no other creditor with a priority right precedes him or shares the right with him.

Article 975

The auction session shall be held publicly before the head of the execution division in his division or in another place he deems appropriate, and shall not be commenced except upon the request of one of the seizing creditors or the creditors participating in the seizure.

Article 976

1. The President of the Execution Department shall decide to refer the sale to the last highest bidder after the lapse of fifteen minutes, or to the previous bidder in case of equal offers. 2. If no one comes forward to buy, the sale shall be postponed for a period ranging between two months, and the auction deposit shall be reduced. 3. The advertising procedure shall then be repeated on the basis of the reduced deposit. 4. The President of the Execution Department must repeat this process until a willing buyer comes forward.

Article 977

It is permissible for each of those who participated in the auction and proceeded in accordance with the deposit or guarantee, and was not the last bidder, to withdraw the deposited money or guarantee immediately after the end of the auction session.

Article 978

If the purchaser at the auction does not, within three days from the date of issuance of the award decision, deposit the full price in the name of the head of the execution division in the state treasury or one of the acceptable banks, the head of the execution division shall, upon the request of one of the interested creditors, proceed to resell the property at the expense and risk of the purchaser.

Article 979

1. Amended: The President of the Execution Department may, during the auction session and upon the request of the debtor, take into consideration the debtor's situation and economic condition, and postpone the sale for a period ranging between two and six months, provided that the debtor pays in advance, for the benefit of all the creditors who have filed a precautionary attachment and those who have a registered priority right, the legal interest on the debt for the granted period and the expenses paid. This postponement may not be renewed except with the consent of the aforementioned creditors.

Article 980

The head of the execution division may order postponement of the sale for one year upon a petition submitted by the debtor to him not less than five days before the date of the sale, establishing therein that the net income from the property is sufficient to pay the debt and its accessory charges.

Article 981

The sale is suspended for one of the following reasons: 1 - The issuance of a decision by a competent judicial authority to suspend the execution. 2 - The execution being based on an arbitral decision that has been appealed, taking into account the provisions of Article 797, or on a document whose forgery is criminally alleged. 3 - None of the persons mentioned in Article 975 requesting the sale at the auction session. 4 - The death of the debtor before the auction session, if this death is notified to the garnishers and the parties participating in the garnishment, and the suspension of the sale continues until the heirs are notified of the new auction date. 5 - The bankruptcy of the debtor, if none of the garnishers, participants in the garnishment, or registered creditors with a special privilege insist on continuing the sale.

Article 982

1. Decisions that are limited to postponing or suspending the sale are not subject to appeal.

Article 983

Issuance of the award decision entails: 1. The performance by the purchaser of the obligations imposed upon him and particularly the payment of the price, fees and expenses without need for notice or request, and this within the time fixed. 2. The transfer of ownership with respect to third parties and the purification of the property from mortgage and security interests and liens. 3. The acceptance by the purchaser of the property in the condition in which it is at the time of award.

Article 984

The judgment debtor is entitled, within ten days from the date of the referral, to deposit into the treasury fund or an accepted bank an amount sufficient to pay all debts and expenses, and this deposit results in the cancellation of the referral decision and the lifting of the attachment.

Article 985

It is the duty of the Execution Department, after the lapse of the deadline stipulated in the preceding article and the issuance of the referral decision and the payment of the price and fees by the buyer, to request the registration of the referral decision in the Real Estate Registry or in the Notary's ledger or in the Special Register related to properties not subject to the Real Estate Registry system or in the record of determination and drafting held by the Real Estate Judge.

Article 986

Registration entails the transfer of ownership with respect to third parties and the purification of the property from mortgage, security and liens which exist for persons who were notified in accordance with the previous articles.

Article 987

1. The referral decision is not subject to objection, but rather appeal within five days from its issuance date, for the following reasons: 2. A flaw in the auction procedures or in the wording of the decision. 3. Its issuance after the rejection of a stay of execution when it is mandatory. 4. A violation of the law in a subsidiary dispute addressed by the referral decision, if it affects the validity of the procedures. The referral decision is subject to nullification within the time limit for the lapse of the right to request nullification, provided that it does not exceed five years from its issuance date, and this is done through a principal claim filed before the competent court by someone who was not a party to the executive transaction.