The auction law in France stipulates the overall picture of real estate execution procedures in 2006. “The Enforcement Decree was enacted on the real estate execution procedure and the distribution procedure for the sale of real estate. By this, a new system of real estate enforcement proceedings in France was established. These regulations have been in force since January 2007. In addition, in accordance with the 2006 regulations, Article 2191(1) of the Civil Act determined the possibility of applying the 1991 law in principle, and Article 1 of the 2006 Enforcement Decree stipulated the possibility of applying the 1992 regulations in principle. (Especially, focusing on general regulations such as the execution judge or objection). It is decided to review the application of the regulations on the execution of real estate and bonds to real estate execution procedures.
Real estate security in France is completed from real estate liens, real estate pledges and mortgages. In addition, the types of mortgage rights include legal mortgage rights and contracted mortgage rights, and the former includes legal mortgage rights of spouses, legal mortgage rights of guardians, legal mortgage rights of government and other public organizations, and mortgage rights by judgment. Among them, the real estate lien and legal mortgage rights are legal security rights, and there are real estate pledge and contract mortgage rights as contract security rights.
The difference is, as in our case, whether the possession of real estate is transferred to the security holder. Also, the new law creates two real rights as a new system for mortgage rights. One is a rechargeable mortgage. This is defined as a mortgage right that, to the extent of an extremely small amount, can be directed towards collateral for bonds other than those agreed upon in the establishment contract. In this way, it is expected that the debtor can make unspecified bonds occurring in the future as secured bonds for mortgages, and effectively utilize them as collateral for checking account accounts and exchange credit contracts. The other is lifelong loans from mortgage lenders. This is the French version of the so-called reverse mortgage. However, this is a special rule on loan contracts for financial institutions that are not new types of mortgages, natural persons to debtors, and mortgage lenders. It is known as a contract including special agreements to be made. According to these regulations, the use of the mortgage system is expected.
This study will focus on introducing the general situation of the French auction process. Specifically, (1) outline of real estate execution procedure, (2) maximum payment equated with foreclosure, (3) act of preparation for sale, (a) real estate status report, (b) summons of the deadline for determining procedures, and (c) terms of sale Statements, (d) report of bonds, (4) date of decision of procedure, (6) sale (a) announcement, (b) auction, (c) payment of sale price, (d) sale judgment, (e) effect of forced sale, (f) Increased sale price, (g) re-auction, (5) dividend procedure, (a) consensus dividend, (b) judicial dividend, etc., in order, and examine the research method of the French Civil Execution Act in detail.