Act No. 174 / 1950 Coll.
Auction Act outside execution
Valid
Effective from 01.01.1951
174.
Law
of 20 December 1950
on auctions outside execution.
The National Assembly of the Czechoslovak Republic decided on the following Act:
The purpose of the law.
(1) The Act provides for public auctions, specific rules of leave or mandated where they are not carried out in execution proceedings, and public auctions carried out at the request of the owner (hereinafter referred to as "auctions").
Participation in auctions.
(1) Auctions may not be limited to individually convened participants; However, restrictions on the number of persons defined by the same business activity or other common character shall be permitted.
(2) Persons who are excluded from participation in judicial auctions are to the same extent excluded from auctions under this law.
The object of the auction.
(1) Matters may be auctioned, with the exception of rights in rem and rights.
Estimate.
(1) The items and rights sold by auction must be estimated before the auction, unless they have an official price.
(2) The estimate shall be made by an expert, preferably a permanent sworn expert.
Auction order.
(1) The auction operation shall be notified by an auction order. It shall indicate in particular the place and time of the auction, the designation of the auction subject and the date and place of the auction.
(2) The Auction Order shall be published in the usual manner; Besides, it's delivered to the owner of the thing, if I know it.
The auction.
(1) As a general rule, the auction is to be fixed in such a way that 15 days have elapsed since the publication of the decree until its publication.
(2) The auction may be waived at the latest at the start of the auction.
The auction shall be held by a person authorised by the auction authority or undertaking.
Things are auctioned individually; sets of things can be auctioned in one piece.
The property owner and the auctioneer shall not auction and shall not be auctioned for them.
When the case is called up, the estimated price shall be indicated, where the price is officially determined and the lowest submission.
The lowest submission shall be two thirds of the estimated or officially fixed price; He can do less in matters of perdition.
They shall be auctioned as long as the auctioneers make a higher submission. If no more than two invitations have been submitted, the auction person shall notify the last submission once again and shall affix the matter to the auctioneer who made the most.
(1) The auctioned item shall be issued to the auctioneer only if the purchase price is paid immediately; If it is not paid, it is auctioned again.
(2) In the event of a re-auction, the previous auctioneer shall not auction.
(1) A report shall be drawn up on the auction.
(2) The document shall also indicate the item sold and indicate the price at which it was sold.
(3) An auction certificate shall be issued to the auctioneer upon request.
Auction costs.
The cost of the auction shall, as a general rule, be borne by the proceeds thereof. If the item is not sold or if the auction proceeds are insufficient to cover the costs, the applicant shall pay them. To this end, the auction authorisation may be subject to the condition that the applicant lodge a reasonable security to ensure costs.
Final provisions.
All provisions contrary to this law, in particular the Decree of the Court Office No. 565 / 1786 sb. of the Court Court Court (Licitation Order), supplemented by the Decree of the Court Office No. 62 / 1808 sb. of the Court Office of the Court, and re-proclaimed by Decree of the Court Office No. 101 / 1815 sb. of the Court Office of the Court of First Instance, are hereby repealed.
This Law shall take effect on 1 January 1951; It shall be implemented by the Minister for Internal Trade in agreement with the Ministers involved.
Gottwald v. r.
Dr John v. r.
Zaporocký v. r.
Krajčir v. r.
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Regulation Information
| Citation | Act No. 174 / 1950 Coll., on auctions outside execution |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 27.12.1950 |
|---|---|
| Effective from | 01.01.1951 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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