Procedure and Current Distinctions in Sales of Attached Property
Legal Articles
Legal Article · 12 November 2026
Av. Thomas Andreas Di Constantinople
Sale of attached property realises its value to satisfy the enforcement claim. Attachment alone does not initiate a sale. The sale request, payment of necessary expenses, and preparatory actions required for the type of property must be completed. Time-limit and expense conditions may also affect continuation of attachment.
Valuation determines the value used as the basis for sale. This value does not guarantee the eventual sale price. Notification of the valuation to relevant persons and available objections are important to the lawfulness of sale preparations. The property's legal and factual characteristics must be addressed in the notice and conditions of sale.
Participation, bidding, security, and payment of the purchase price are separate stages in an electronic auction. Making the highest bid does not create an unrestricted right to acquire the property independently of other statutory conditions. The auction provisions in force for the sale type and transaction date must be taken into account.
The provision added to Article 114 of the Enforcement and Bankruptcy Law by Law No. 7589 concerns dissolution of co-ownership by sale of immovable property where all owners acquired their shares by inheritance and there are no owners other than heirs. The first auction is held once only among the owner-heirs; this rule does not apply to every sale of attached immovable property. Under provisional Article 1/1, the previous provisions continue to apply to auctions announced before 31 July 2026.
Failure to pay the price after sale and allegations of irregularity have different consequences. An application to set aside the auction, payment of the purchase price, and payment to right holders are not parts of the same examination. A particular sale must be examined by considering the notice, conditions of sale, participation records, and relevant current provisions together.
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This article has been prepared for general legal information purposes.