Code of Organization and Civil Procedure (Cap. 12), article 356

356. (1) The time period contempl ated in article 2086 of the Civil Code , in respect of property adjudicated in a judicial sale, shall be of two years to commence to run from the date of enrolment of the act of adjudication in the Public Registry. (2) The said period of two years shall be reduced to four months from the date of service by a judicial act of a copy of the act of adjudication, or of a copy of the note of enrolment of the a ct of adjudication in the Public Registry, and this in respect only o f any hypothecary or privilege d creditor on whom s uch service is made . (3) Where the judicial sale is o f a commercial going concern that includes immovable property , the said period of two years shall be reduced to four months to commence to run from the date of enrolment of the act of adjudication in the Public Registry. (4) Any action by the hypothecar y or privileged creditor against the third party in possession of an immovable acquired by virtue of a judicial sale shall be barred if the protest mentio ned in article 2072(1) of the Civil Code , (calling upon the debtor to discharge the debt and the third party in possession either to discharge the debt or to surrender the property), is not filed within the period of two years or four months mentioned in the precedi ng sub-articles of this article, or if the creditor fails to deman d judicially the sale of the immovable within six months from the filing of the protest mentioned in article 2072(1) of the Civil Code . Such action shall also be barred if the third party in possessi on surrenders the property and the creditor fails to start proceed ings for the judicial sale within six months from the service of a c opy of 112 CAP. 12.] CODE OF ORGANIZATION AND CIVIL PROCEDURE the note of such surrender. (5) Notwithstanding the provisions of article 2072(2) of the Civil Code , the demand for the judicial sale of the immovable can be made at any time after the exp iration of sixty days from the date of filing of the protest. (6) The creditors whose action has been barred in terms of the provisions of this article shall not have any right against the third party in possession who had acqu ired the immovable as a result of the new judicial sale under the said provisions; provided that such creditors shall retain their ranking prior to sale. (7) If before an adjudication or after an adjudication, the bidd er or purchaser, as the case may be , finds that the immovable prop erty is subject to any burdens, leases or other rights whether real or personal, which have no t been included in the valuation in term s of article 310, the bidder or purchaser, as the case may be, shall have the right in the former case to demand eith er to withdraw his b id or to have his bid reduced, and in the latter case the purchaser s hall have the right to demand t he rescission of the sale. (7A) When such action is exercised and the sale is effected, the third party which has acquired possession of the immovable thin g in whose favour the property would have been originally adjudicated, who shall not also be the same person in whose fav our during the second sale the property has been adjudicated, shall be paid from the proceeds of the s econd sale the sum of money whic h he would have defrayed together with all expenses made before a ny other creditor: Provided that where the third party which has acquired possession of the immovable thing during the second sale at a higher price is also the same person in whose favour the proper ty had been originally adjudicated, such third party shall be requ ired to deposit in court only the difference in price, and not the f ull price. (8) Such demand for the rescission of the sale is to be made not later than six months from the date of the adjudication by mean s of an application to be served on the execution creditor and the d ebtor. (9) The court shall allow the demand of the bidder or of the purchaser; as the case may be, if it is satisfied that the omis sion in the said valuation or in the said list was relevant so as to af fect the bid made by the purchaser. Eviction after adjudication. Added by: XIV .2006.55. Amended by: IV .2016.16.