What are the relevant provisions of the post-auction property distribution plan?
The original security interest and other priorities on the auction property are destroyed by the auction, and the proceeds from the auction shall give priority to paying off the creditor's rights of the security interest holder and other priority holders, unless otherwise agreed by the parties.
Provisions of the Supreme People's Court on Auction and Sale of Civil Execution Property by People's Courts
(Fa Shi [2004] 16)
Article 4 The people's court shall entrust an appraisal institution with corresponding qualifications to evaluate the price of the auctioned property. If the value of the property is low or it is easy to determine the price according to the usual method, the evaluation can be omitted.
The people's court shall allow the parties and other enforcement creditors to apply for non-evaluation.
When evaluating the equity of the person subjected to execution, the people's court may order the relevant enterprises to provide accounting statements and other materials; If the relevant enterprise refuses to provide it, it can be forcibly extracted.
Article 8 The reserve price shall be determined in an auction.
The reserve price of auction shall be determined by the people's court with reference to the evaluation price; If it is not evaluated, it shall be determined with reference to the market price, and the opinions of the parties shall be solicited.
The reserve price determined by the people's court shall not be lower than 80% of the evaluation or market price at the first auction; If there is an auction target, the reserve price may be reduced as appropriate when the auction is held again, but the amount reduced each time shall not exceed 20% of the previous reserve price.
Thirteenth auction of immovable property, other property rights or movable property with high value, the bidder shall pay a deposit to the people's court in advance before the auction. If the applicant for enforcement participates in the bidding, the deposit may not be paid in advance. The amount of the deposit shall be determined by the people's court, but it shall not be less than 5% of the evaluation price or market price.
Those who should pay the deposit in advance and fail to pay it shall not participate in the bidding. After the auction is completed, the deposit paid in advance by the buyer will offset the price, and the deposit paid in advance by other bidders will be refunded within three days; If the auction is not completed, the deposit shall be returned to the bidder within three days.
Article 17 When auctioning multiple properties, if the sale price of some properties is enough to pay off debts and pay the expenses that the person subjected to execution should bear, the auction of the remaining properties shall be stopped, unless the person subjected to execution agrees to auction them all.
Article 19 If there is no bidder in the auction or the highest bid price of the bidder is lower than the reserve price, if the application executor or other enforcement creditors present at the auction apply for or agree to accept the auction property at the reserve price determined at the auction, they shall hand over the property to them to pay off their debts.
If more than two executing creditors apply for auction of property to pay off debts, the creditor with the first legal repayment order will be given priority; If the repayment order is the same, the beneficiary shall be determined by drawing lots. If the amount of creditor's rights payable by the debtor is lower than the price of the collateral, the people's court shall order it to make up the difference within a time limit.
Article 23 If an auction is concluded or the debt is paid off with the auction property, the people's court shall make a ruling and deliver it to the buyer or recipient within 10 days after the price or difference should be paid off.
Article 25 If the buyer fails to pay the price or the receiver fails to make up the difference within the time limit after the auction is completed or the debts are paid off with the auction property, the people's court may order a new auction. When auctioning again, the original buyer shall not participate in the bidding.
The original buyer shall bear the price difference, cost loss and commission caused by the re-auction price being lower than the original auction price. The people's court may directly deduct it from the deposit paid in advance. If there is still a deposit after deduction, it should be returned to the original buyer; If the deposit amount is insufficient, the original buyer may be ordered to return it; Refusing to pay, compulsory execution.
Article 26 If there is no bidder in the auction or the highest bid price of the bidder is lower than the reserve price, and the application executor or other enforcement creditor present at the auction does not apply for paying off the debt at the reserve price determined by the auction, the auction shall be conducted again within 60 days.
Article 27 The people's court may, in accordance with the provisions of Article 19 of these Provisions, price the movable property that is still auctioned in the second auction, and hand it over to the application executor or other enforcement creditors to pay off the debts. If the applicant executor or other enforcement creditor refuses to accept or fails to deliver it to pay off the debts according to law, the people's court shall lift the seal-up and seizure and return the movable property to the person subjected to execution.
Article 28 The people's court may, according to the provisions of Article 19 of these Provisions, transfer the real estate or other property rights that are still auctioned in the second auction to the application executor or other enforcement creditors to pay off debts. If the application executor or other enforcement creditors refuse to accept or fail to pay off the debts according to law, the third auction shall be held within 60 days.
If the third auction fails and the applicant executor or other enforcement creditors refuse to accept the real estate or other property rights to pay off debts according to law, the people's court shall issue a notice of sale within seven days from the end of the third auction. If no buyer is willing to buy the property at the reserve price of the third auction within 60 days from the date of announcement, and the application executor and other enforcement creditors still refuse to accept the property to pay off their debts, the seizure and freezing shall be lifted and the property shall be returned to the person subjected to execution, except that other enforcement measures can be taken for the property.
Article 29 After the auction or liquidation of movable property, the ownership shall be transferred to the buyer or assignee from the time of delivery.
After the auction of real estate, registered specific movable property or other property rights is completed or paid off, the ownership and other property rights of the real estate and specific movable property are transferred from the time when the auction is completed or the ruling of paying off debts is served on the buyer or receiver.
Article 30 After the people's court has ruled that the auction is completed or the debts are paid off with the auction property, it shall hand over the auction property to the buyer or assignee within 15 days after the written ruling is served, unless it cannot be handed over according to law. If the person subjected to execution or a third party refuses to hand over the auction property, it shall be enforced.
Article 31. The original security interest and other priorities on the auction property shall be destroyed by auction, and the proceeds from auction shall give priority to paying off the creditor's rights of the security interest holder and other priority holders, unless otherwise agreed by the parties.
If the original lease right and other usufructuary right on the auction property are not extinguished by the auction, but the right continues to exist on the auction property, which affects the realization of the priority security right or other priority rights, the people's court shall cancel it according to law and conduct the auction.
Article 33 Where the state-owned shares and social legal person shares of listed companies are auctioned in the execution procedure, the Provisions of the Supreme People's Court on Several Issues Concerning Freezing and Auction of State-owned Shares and Social Legal Person Shares shall apply.
Thirty-fourth of the sealed up, seized or frozen property, the parties and the relevant rights holders agree to sell, you can sell.
The people's court may order the sale of gold and silver and its products, movable property publicly traded in the local market, perishable goods, seasonal goods and articles that are difficult to keep or that are too expensive to keep.
Article 35 If the parties and related obligees have an agreement on the price of the property to be sold, they shall sell the property at the agreed price; If there is no agreed price but there is a market price, the sales price shall not be lower than the market price; If there is no market price, but the value is large and the price is difficult to determine, an evaluation institution shall be entrusted to evaluate the sale according to the evaluation price.
If it is not sold at the assessed price, it can be sold at a reduced price, but the minimum resale price shall not be less than half of the assessed price.
If no one should buy the sold property, the provisions of Article 19 of these Provisions shall apply, and the property shall be handed over to the application executor or other enforcement creditors to pay off the debts; If the application executor or other enforcement creditors refuse to accept or fail to pay off the debts according to law, the people's court shall lift the seal-up and seizure and return the property to the person subjected to execution.
If the relevant property needs to be distributed after the auction, it may be mortgaged, or the items belong to real estate, and there is no way to directly divide the real estate. The property distribution plan is nothing more than your own decision or the judgment of the people's court. If the agreed property distribution scheme completely ignores the interests of creditors, creditors may request the court to cancel the property distribution scheme.