Judicial auction
Procedural act for forced realisation of seized or mortgaged assets to pay the enforcing creditor. Since 2015 held exclusively online on the BOE Auction Portal. For properties, opening price is 75% of assessed value. If there are no bidders, the creditor may acquire the asset at 50-70% of its value.
Other Procedural law terms
Simplified judicial procedure for claiming monetary debts that are liquid, determined, due and enforceable. No lawyer or court agent required for amounts under €2,000.
Extraordinary appeal before the Supreme Court against second-instance judgments. Based on cassational interest: law infringement, contradiction between Provincial Courts or case law doctrine.
Evidence consisting of the technical opinion of a specialized professional on facts relevant to the proceedings. May be appointed by the parties or by the court.
Security measure affecting specific assets of the debtor to guarantee fulfillment of an obligation. May target bank accounts, property, vehicles or wages (with minimum wage limits).
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