Title II: Property.

The judicial sale of real estate and businesses belonging to minors under guardianship or to adults under guardianship may only be ordered on the basis of a deliberation by the family council stating the nature of the property and its approximate value. This deliberation is not necessary if the property belongs at the same time to capable adults and if the sale is pursued by them. In this case, it…

At the request of the guardian or subrogated guardian, the bids are received either by a notary appointed for this purpose by the judicial court, or at the auction hearing by a judge appointed by that court. The competent court is that within whose jurisdiction the person under guardianship resides. If the property is located in several arrondissements, the court may appoint a notary in each of these arrondissements and…

The court shall determine the upset price for each of the assets to be sold and the essential terms of the sale. It may specify that in the absence of bids reaching this reserve price, the sale may be made at a lower reserve price which it shall fix. The court may, if the value or consistence of the property justifies it, arrange for its total or partial appraisal.

The court shall determine the terms of publicity, taking into account the value, nature and location of the property.

The appointed notary or lawyer draws up a schedule of charges. If the sale takes place at the auction hearing, this schedule of conditions is filed at the court registry. The schedule of conditions indicates the judgment ordering the sale, designates the property to be sold and mentions the upset price and the conditions of the sale. Where the sale relates to a business, the specification sheet specifies the nature…

In application of the provisions of paragraph 1 of article 459 of the Civil Code, the subrogated guardian is called to the sale, at least one month in advance, at the behest of the drafter of the specifications and informed that the sale will be carried out, even in his absence.

If no bid reaches the amount of the reserve price, the judge or notary, as the case may be, may note the highest bid and provisionally award the property for the amount of that bid. Unless the seller renounces, the court that set the reserve price, seised at the request of the notary, the lawyer or any interested party, may either declare the adjudication final and the sale completed, or…