Glossary


JUDICIAL PURPOSE: a court action, through which the court, as a result of a real estate execution, has the forced sale of one or more movable or immovable property owned by the executor in order to obtain a liquidity to satisfy, in whole or in part, the creditors involved in the process. Judicial auctions are also carried out by delegated professionals.

ORDER / SIGNATURE NOTICE: a document drawn up by Judge a by the Delegate Professional with whom one or more goods (Lots) are auctioned.

PRICE BASE OF ASTA: starting price of the sale

MINIMUM OFFER: Art. 571 cpc provides for the possibility under real estate enforcement procedures to offer a price lower than the basic auction price set in the order / sales notice, within a quarter, without waiting for the subsequent sale.

CAUTION: sum required for participation in a competitive auction or procedure that must be paid before the participation / entry to the competition, usually amounting to 10% or more of the offered price. In case of non-awarding the deposit will be returned to the participant.  In the event of an award but failure to pay the price, the award will be revoked and the deposit will be retained correctly under Art. 587 CCP

REQUESTS (make a bid higher than the previous one): in the case of multiple users participation, tenders can be implemented according to the minimum amount set in the sales order or tender specifications (minimum raise) or if not expected the amount offered may be at your discretion as long as you exceed the previous bid

PERIOD: technical advice from the office prepared by an expert estimator in which the goods placed on the market are described in detail.

LOT: one or more goods belonging to the same procedure.

DELEGATED: a professional in the categories of Lawyers, Notaries or Chartered Accountants, delegated by the Judge at the completion of the sales operations.

CUSTODE: The custodian is a professional registered in a specific file held at the Court of First Instance appointed by the Custodian to execute the assets and thus to auction. In particular, the duties of the custodian in the phase of sale are:

  • interrelationships with the public in order to better place the goods on the market
  • to avoid requests for information of the persons concerned to the property, by sending or making available the relevant report, the related attachments (photographs, plans, cadastral sheets, etc.) and all the documentation in its possession
  • affording the property;
  • provide information on the state of the property, both material (maintenance, conservation, any structural or urban problems that can be remedied or not, etc.), as well as any occupation (expiry of the lease where it can be opposed to the procedure, of non-opposing occupation);
  • provide information on the amount of condominium charges for which, according to the provisions of art. 63, co. 2, disp. att. cc, the potential bidder may be called upon to respond firmly to the debtor;
  • provide clarification as to the manner in which sales and subsequent transactions are performed (deletion of formalities, charges to that effect by the successful tenderer in cases of delegated sales, taxation
  • on the property);
  • provide information on the existence of bank agreements for obtaining mortgages for purchase.
  • organize visits to the good by accompanying personally or by means of a delegate to all those interested in the purchase. In order to avoid irregularities in the conduct of the auction, the custodian must avoid potential buyers from coming in contact, organizing visits at different times and well-timed.

SALE WITHOUT INCANTY: constitutes the ordinary procedure of judicial sales whose participation is allowed after the filing of its bid in a closed envelope according to the rules established by the court in the sales order

In the sale without enchantment everyone, except the debtor, is admitted to offer for the purchase of the goods that are seized personally or by means of a lawyer.

CONTRACTOR: a user who, upon the expiration of the time set for the race, has submitted the highest bid without having to raise any further rebates - the best bidder. In certain cases, in the context of bankruptcy proceedings, by means of a sale proposed by means of a 'Interest Event' or 'Bid Collection' prior to the award of the contract, the best offer received by the system must be submitted to the competent authority in order to validate the ' award. In this case, the offer is binding for the user but not binding for the procedure that reserves the right not to accept the offer if it is not considered appropriate. If you accept the offer, you will be charged by the user in addition to the balance, including sales fees, ancillary charges, and any charges incurred by law.

CHARGES: Costs that will be added to the value of the goods and will have to be paid by the buyer / contractor.

BALANCE PRICE: The amount that the successful tenderer must meet within the deadlines set in the order / notice of sale or disciplinary action. The balance to be paid is equal to the bid being awarded, the amount of the security plus any due charges.

DECREE OF TRANSFER: a decision of the Judge of the Execution or Delegate, through which the real right is transmitted by the executed debtor who owns or failed, to the final contractor so that he becomes the new owner

Traditional mode of participation:


Participants will be required to submit their purchases in a closed envelope at the Real Estate Execution Chancellery, in the case of bankruptcy sales at the Bankruptcy Chancellery, or in case of delegation to professionals at the office of the delegated professional, usually by 12 noon before the sale (the deadline for submitting the offer must always be verified in the sales order and / or sales notice).

The envelope shall not be affixed by any tenderer. The offer is secret and irrevocable and must contain: surname, name, place and date of birth, tax code, domicile, marital status, telephone address of the subject to whom the property will be headed (you will not be able to call the property) motionless to a subject other than the one who subscribes to the offer) who will have to appear at the hearing fixed for sale; if the tenderer is married, and in the process of legal communion of the goods, the spouse's corresponding data must also be communicated; if the tenderer is a minor, the offer must be signed by the parents, subject to the authorization of the guardian; if the tenderer acts as the legal representative of another subject, must be accompanied by a certificate of the business register from which the powers or powers of attorney or power of attorney are given; the identification data of the goods for which the offer is proposed; the indication of the price offered, which may not be less than the minimum price indicated in the notice of sale, with penalty of exclusion; the express statement of having taken the view of the assessment expert.

When depositing the bid on the outside of the envelope will be annotated by the Registrar or the Delegate Professional: the name, after identification, of the person who materially arranges the deposit (which may also be different from the bidder); the name of the Judge or, in case of delegation, the name of the delegated professional, and the date of sale. In the event of a number of valid offers, the tender will be awarded on the basis of the highest offer.

The good will be permanently awarded to those who have made the highest raise; in the event of an invitation to tender, the amount of revival must be in accordance with the express order indicated in the order. In the case of an award, the tenderer is required to pay the balance of the price and the charges, rights and expenses of the sale within the time indicated in the order.

In the event of non-performance, the award will be revoked and the successful tenderer will lose the amount paid in accordance with art. 587 and 574 cpc

Telematic participation:


Following the changes introduced by law 24/2010 and by the "Rules governing the technical and operational rules for the sale of movable and immovable property through telematic modalities" sales are electronically participated. For further details, please click on the following link .

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