1. After completing the attachment, the Debtor may submit to the Execution Judge a request to sell the attached property to one of the purchasers. Their request shall be accompanied by the sale price and the purchaser's approval thereof. This shall be presented to the Judgment Creditor(s), if the price of the sold property is less than the debt for which the sequestration was made, within (7) seven days from the date of the attachment. The date of submission of the application. If they do not object within (7) seven days from the date of their notification or upon their approval, the sale shall be made and the price shall be deposited in the Court's Treasury in favour of the Creditors. 2. The Execution Judge shall, before proceeding with the sale of the real property by auction, give notice to the Debtor to pay the debt within (15) fifteen days from the date of the notice, failing which the real property will be sold by auction, and the Debtor may apply during that period to defer the sale, and the Execution Judge may grant such application in the two following circumstances: a. If the income from the real property over a period of (5) five years will be sufficient to pay the debt, interest, fees and costs, the Execution Judge may, in that event, authorize the Creditor under their supervision to collect the revenues from the real property until payment is made in full, and if any unforeseen circumstance arises preventing the collection by the Creditor of their rights in a regular manner, the Execution Judge shall, upon the application of the Creditor, continue with the procedures for the sale of the real property. b. If the revenues from the real property over a period of (5) five years are insufficient to pay the debt, interest, fees and expenses, and the Debtor has other sufficient income in addition to the income from the real property to pay the debt in installments during the period referred to in this Paragraph, and it appears to the Execution Judge that the sale of the real property would cause great loss to the Debtor, they may decide to defer the sale and to make the debt payable by installments over a period not exceeding the period referred to with such guarantees as they deem appropriate, and if the Debtor fails to pay any of the installments, the Execution Judge shall, on the application of the Creditor, continue with the procedures for the sale of the real property. 3. If the period of notice laid down in Clause (1) of this Article expires without the Debtor having paid the debt or having made an application to defer the sale or if such application has been dismissed, the Execution Judge shall specify the place and date of the sale and the period during which the auction shall be conducted. 4. The Execution Judge shall, before announcing the sale, appoint one or more experts to assess the price of the real property within a period not exceeding (15) fifteen days from the date the Judge gives such instructions. 5. The Court office shall notify the Debtor, the person in possession of the property, and the surety in rem of the place and day of the sale and the period during which the auction will be conducted, and they shall announce the sale no later than (30) thirty days before the day scheduled to conduct it, by publication in two daily newspapers circulating in the State, and a copy of the notice shall be displayed in a conspicuous place on the real property, and another on the Court's notice board, or by any other means the Execution Judge deems appropriate.
Interpretation and application must be checked against the official text and current version.