Private sale
An out-of-court sale that may be examined before judicial realisation but does not itself terminate the enforcement proceeding.
A private sale may become relevant before judicial realisation if the owner, prospective buyer and affected creditors clarify in time whether the purchase price, release of encumbrances and satisfaction of claims can be aligned. It is not a judicial auction under Section 133 of the Austrian Enforcement Code, and concluding the sale does not automatically terminate a pending enforcement proceeding.
Whether judicial realisation can still be avoided depends on the stage of the proceeding, the court file and the parties’ declarations. Section 39(1)(6) of the Austrian Enforcement Code lists withdrawal of the enforcement request or abandonment of continuation as grounds for termination. An agreement or purchase offer therefore guarantees neither a creditor’s consent nor termination. The firm’s article on a private sale before judicial auction explains the preparation in detail.
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This explanation gives a general overview of Austrian law and does not replace a lawyer’s examination of the individual case.
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Judicial auction
Court enforcement proceeding in which land, a superstructure or a building right is realised to enforce an enforceable monetary claim.
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Auction edict
Public court notice that makes a specific judicial auction and its material hearing details findable for parties and interested bidders.
Questions about an upcoming auction?
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Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000