I am a credior of a registered judgment in France.I am now going to sell the home of the judgment debtor by judicial auction.Please can you tell me1. - in percentage terms on the reserve price what costs I have to pay if the reserve price is not beaten2. what sums I have to pay if I make an over-reach bid
Country relating to Question: France
Hello, 1) If the reserve price is not beaten, what you will have to pay will be your lawyer's fees. But you will have a court decision that states that the debtor is to pay your attorney fees. So you will have to garnish the bank account of the debtor.
2) If you make a bit, you will have to pay the full amount if there are other credtors (a list of creditors by order of priority), like a bank (mortgage) etc.
I have a further question - for which I expect you to charge-
If I pay off the creditors - they are small before the auction- then I assume I will only have to pay my lawyers fees and the related costs of having the flat transferred to me?
If this is correct please can you refer me to the legislation or court rules or case law which supports this proposition?
I am glad I was able to answer your first question. Can you please rate my first answer positively, otherwise I shall not get any credit for my work. Then I will answer your second question, you will have to post it. If you wantr to give me a bonus, feel free to do so. Also, I shall be happy to answer any follow-up question you might have afterward and likewise you will have to rate me again after you will have received my answer to your follow-up question.
Practicing law in France, 10+ years of experience on Paris Bar. Taught French Business Law in US
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