Article 74. Sale of seized property The Law on Enforcement Proceedings and the Status of Bailiffs
1. The sale of seized property, except for property withdrawn from circulation by law, regardless of the grounds for arrest and types of property, with the exception of property specified in paragraph 3 of Article 77 of this Law, shall be carried out by a bailiff at auction in the form of an electronic auction on a single electronic trading platform of the state automated digital enforcement system or on a single electronic the trading platform, which is selected by the Republican Chamber in accordance with the procedure determined by the authorized body.
2. The bailiff, after the seizure and assessment of the property and before the sale of the property, simultaneously with familiarization with the assessment report, grants the debtor, upon his written request, the right to independently sell the seized property within a period of no more than one month at a value not lower than seventy-five percent of its estimated value indicated in the assessment report, from the date of which it has passed not more than one year.
The debtor's receipt of a permit for the sale of property is not a reason for suspending the procedures for the sale of property.
The period of independent sale of housing is three months, during which the property cannot be put up for auction.
The right to self-dispose of seized property may be used by the debtor no more than once in one enforcement proceeding.
After signing the purchase and sale agreement between the buyer and the debtor or the bailiff and the buyer deposits a sum of money in the amount of the purchase price of the property into the cash control account of the territorial authority or the current account of a private bailiff intended for storing the recovered amounts in favor of the recoverers, encumbrances on the sold property imposed under other enforcement documents, with the exception of encumbrances imposed by the court in order to secure the claim, are cancelled by the bailiff, who sold the property or with whose permission it was sold.
3. If, by the time the decision on the sale of the seized property is made, bankruptcy proceedings are initiated against the debtor, the sale of the property is suspended until the said issue is considered on its merits.
4. The issues of the sale of seized property, including at auctions in the form of an electronic auction, which are not regulated by this Law, are determined by the rules approved by the authorized body.
The Law of the Republic of Kazakhstan dated April 2, 2010 No. 261-IV.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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