UNTIL WHEN CAN A LAWSUIT FOR THE CANCELLATION OF THE TENDER BE FILED?
The action for termination of the tender must be filed by filing a complaint within 7 days from the date of the tender. The exception to this is the case where the situation that will cause the termination of the tender is learnt later. In this case, the termination of the tender can be requested through complaint within 7 days after the situation that causes the termination of the tender is learnt. However, in any case, the termination of the tender must be requested within 1 year. In any case, if the termination of the tender is not requested within the 1-year period to be applied in any case, the right to complain will be dropped. In addition, in the cases of termination of the tender, the court of execution must hold the hearing within 20 days.
WHEN SHOULD THE TENDER PRICE BE PAID?
As a rule, the tender price must be paid immediately. However, if the conditions specified in the relevant law are realised, the bailiff may grant a maximum period of 10 days for the payment of the tender price.
WHAT WILL HAPPEN IF THE TENDER PRICE IS NOT PAID?
Even if a complaint has been filed for the cancellation of the auction. The sale price must be paid immediately. Or within the deadline given to the buyer by the bailiff. Provided that it does not exceed 10 days. As stated in Article 130 of the EBL. If the payment related to the auction is not made by the buyer. The executive director must give time to the second. Person with the highest bid after. The tender buyer according to Article 133 of the BEC. To make an offer and to auction the immovable for 7 days. And after the expiration of the period, the auction decision must be cancelled.
IF THE CANCELLATION OF THE AUCTION IS NOT FILED WITHIN HOW MANY DAYS, THE AUCTION IS FINALISED?
There is a 7-day period from the date of the tender to file a complaint for the cancellation of the tender. If the termination of the tender is not requested. Within this period, the tender will be finalised.
IN WHICH COURT IS THE CANCELLATION OF THE AUCTION CASE HEARD?
Enforcement Courts are in charge of the cancellation of the auction. However, if the immovable property is sold by auction through the elimination of the partnership. The competent court will be the Civil Court of Peace. The competent court is the Execution Law Court. Where the execution office conducting the auction is located.
WHAT WILL HAPPEN IF THE COURT DECIDES TO TERMINATE THE AUCTION IN THE CASE OF CANCELLATION OF THE AUCTION?
If a decision is made to terminate the auction. After the cancellation of the auction and this decision becomes final. The buyer’s right of ownership on the sold movable and immovable property is terminated. In this case. The buyer will be reimbursed. The purchase price paid, together with interest. Then, the sale of the movable and immovable value subject to the tender. İs made again and the sale is completed. After the tender between the interested parties.
WHAT WILL HAPPEN IF THE CANCELLATION OF THE AUCTION IS REJECTED?
If a decision is taken to reject the cancellation of the auction. A judicial fine of 10% of the tender price is imposed on the party making the unfair request. And if the reason for the follow-up for the immovable. Property for which the sale tender is made is housing finance. The judicial fine rate is increased to 20%.
WHEN IS THE DECISION RENDERED IN THE CASE OF CANCELLATION OF THE AUCTION FINALISED?
The decision on termination is notified to both parties. If the parties do not object to the decision within. 10 days after the notification, the decision will be finalised.
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