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REAL
ESTATE EXECUTIONS
It is a procedure at the presence of the Judge of the execution of the Court of competence in which the immovable property insists.
The creditor that realized the foreclosure of the goods of the debtor, with executive title, within ninety days from the notification of the foreclosure to the debtor must petition the Chancellery for the sale of the distress immovable properties, and the mortgage and cadastral documentation.
Subsequently, the Judge of the execution appoints a Technical Advisor, choosing him among the engineers, architects or geometers registered on a special roll and asks him to write an estimate expert evidence of the immovable property (normally he has ninety days time).
By the elements given by the Technical Advisor, the Judge gives the ruling of sale of the immovable property, fixing the date of the auction and determining the condition to participate. The Chancellor gives public news of this order posting the auction notice on the noticeboards of the Court and publishing it on fixed newspapers and on internet. If nobody goes to the auction and there is a lack of offers, the Judge fixes new experiments of auction reducing the starting price to a fifth of the value of the immovable property.
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Moreover it is necessary to know that once begun the executive procedure, the sale of the immovable property is not always sure; in fact the necessary fulfilments to reach the auction are long and hard-working, from the foreclosure to the auction pass some years. In this period of time the debtor has the possibility to pay his debts or to ask the foreclosure conversion. In these cases the Judge extinguishes the execution or suspends the auction.
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