Well Executed Auction

Regulation of foreclosure is delimited in art. 682 of the LEC, to demonstrate that the rules of this process shall apply only when the execution is directed solely against the property mortgaged as collateral for debt that is appropriate. The first of the requirements for the initiation of this execution modality, is the Constitution of a mortgage on certain property as collateral for the payment of the obligations of a certain person for a legal relationship. The second requirement is supplemented by the second paragraph of the same precept, delimiting greater extent, the characteristics of the object of the foreclosure, namely the determination in the articles of incorporation of the mortgage on the price at which stakeholders priced the farm to serve you of such in the future auction and the provision in the articles of incorporation of the mortgage of a home by the debtorfixed for the purposes of notification and requirements. Initiated a procedure of execution mortgage by the mortgagee, for breach of the obligation of payment of the debtor, is clear the relevance of this assessment at the procedural level, when the procedural law requires the parties to identify this appraised value with the type of output of the judicial sale of the mortgaged property, therefore, as we have outlined above, this value must consist in the articles of incorporation of the mortgage and registration in the register of property budget objective of admissibility of the claim of foreclosure in order to use this procedure for judicial enforcement against the property mortgaged, for the case that breached the principal obligation can be alienated the property mortgaged in public auction, as it determines the 1858 articles of the Civil Code, 682 of the Civil procedure law, 129 and 130 of the mortgage law and 234 and SS. Mortgage regulation. In the last years prior to the outbreak of the crisis real estate appraisal companies, responsible for valuing the farms for the purpose of auction, they have inclined to the interests of financial institutions, making farms sobrevaloraciones given in guarantee.