CHAPTER 2. JUDICIAL SALE UNDER FIERI FACIAS Art. 2331. Publication of notice of sale A. Notice of the sale of property under a writ of fieri facias shall be published at least once for movable property, and at least twice for immovable property, in the manner provided by law. The court may order additional publications. […]
Art. 2332. Appraisal A. The property seized must be appraised according to law prior to the sale. However, when the property seized is subject to a mortgage, security agreement, or other document creating a privilege in which the debtor has waived the right to appraisal and the judgment recites that the right of the judgment […]
Art. 2333. Sale of perishable property The court, at the request of a party, may order the immediate sale at public auction, without advertisement or appraisement, of property that is perishable and subject to loss or deterioration pending compliance with the usual formalities. Notice of the time and place of the sale shall be given […]
Art. 2334. Reading of advertisement and certificates A. At the time and place designated for the sale, the sheriff shall read aloud all or part of the advertisement describing the property in such sufficiency as to reasonably provide notice to the public of the property then being offered for sale, which, at a minimum, shall […]
Art. 2335. Superior mortgage or privilege The sheriff shall announce that the property is to be sold for cash subject to any security interest, mortgage, lien, or privilege thereon superior to that of the seizing creditor. Acts 1989, No. 137, §18, eff. Sept. 1, 1989.
Art. 2336. Minimum price; second offering Except as provided in Article 2332, the property shall not be sold if the price bid by the highest bidder is less than two-thirds of the appraised value. In that event, the sheriff shall re-advertise the sale of the property in the same manner as for an original sale, […]
Art. 2336.1. Determination of superior encumbrances or privileges A. To determine the amount due to the owner of any mortgage, security interest, lien, privilege, or other encumbrance that is superior to that of the seizing creditor, hereinafter “superior encumbrance”, the sheriff or the seizing creditor may cause a subpoena duces tecum to be issued by […]
Art. 2337. Price insufficient to discharge superior privileges; property not sold If the price offered by the highest bidder at the first or subsequent offering is not sufficient to discharge the costs of the sale and the security interests, mortgages, liens, and privileges superior to that of the seizing creditor, the property shall not be […]
Art. 2338. Judgment creditor having superior privilege; price insufficient to satisfy inferior mortgage A. If the security interest, mortgage, lien, or privilege of the seizing creditor is superior to other security interests, mortgages, liens, and privileges on the property, he may require that the property be sold, even though the price is not sufficient to […]
Art. 2339. Judgment debtor and creditor may bid The judgment debtor and the seizing creditor may bid for the property.
Art. 2340. Payment of debt prior to adjudication The sale of the property may be prevented at any time prior to the adjudication by payment to the sheriff of the judgment, with interest and costs.
Art. 2341. Sale when installment not due When the seizing creditor has a security interest, mortgage, lien, or privilege on the property seized, for a debt of which all the installments are not due, he may demand that the property be sold for the entire debt, on the same terms for the payment of unmatured […]
Art. 2342. Act of sale by sheriff Within fifteen days after the adjudication, the sheriff shall pass an act of sale to the purchaser, in the manner and form provided by law. The act of sale adds nothing to the force and effect of the adjudication, but is only intended to afford proof of it. […]
Art. 2343. Sheriff’s return after sale The sheriff shall make a signed return to the clerk who issued the writ, showing that all formalities have been complied with and stating the manner in which the writ was executed, a description of the property sold, the name of the purchaser, the purchase price, and the disposition […]
