Subsection 2: Forced sale

The sale is carried out by public auction either at the place where the seized objects are located, or in an auction room or any other place open to the public whose geographical location is the most appropriate for soliciting competition at the lowest cost. The choice is made by the creditor, subject to the conditions set out inarticle 3 of the Order of 26 June 1816 establishing the judicial…

The sale is advertised by posters indicating the place, day and time of the sale and the nature of the assets seized. The posters shall be affixed at the town hall of the municipality in which the distrainee debtor resides and at the place of sale. This compulsory publicity is carried out on expiry of the period provided for in the last paragraph of article R. 221-31 and at least…

The debtor is notified by the bailiff of the place, day and time of the sale, at least eight days before its date, by simple letter or by any appropriate means. This is mentioned in the certificate provided for in Article R. 221-34.

Prior to the sale, the ministerial officer in charge of the sale verifies the consistency and nature of the seized property. A record of this is drawn up. Only items that are missing or have been damaged are mentioned. The provisions of article R. 221-12 are applicable.

The distraining creditor who arranges for the removal of the assets with a view to their forced sale informs the creditors holding a published security interest in the same assets by registered letter with acknowledgement of receipt. Under penalty of nullity, this letter shall indicate the name and address of the official responsible for the sale and reproduce the following paragraph in very clear characters. Within fifteen days of receipt…

The sale is carried out by a ministerial officer authorised by statute to conduct public auctions of tangible movable property and, in the cases provided for by law, by sworn merchandise brokers.

The sale is made to the highest bidder after three auctions. The price is payable in cash. In the absence of payment by the winning bidder, the item is resold on re-bidding.

A deed of sale is drawn up. This deed shall contain a description of the goods sold, the amount of the hammer price and a statement of the full names of the successful bidders. An extract of the entries in the register referred to in article R. 521-1 of the French Commercial Code, drawn up in application of article R.221-14-1, is attached to the deed. Upon proof of payment of…