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Of Sales in Execution of Decrees.
LXXV. Sales in execution of decrees shall be conducted by an Officer of the Court or by any other person whom the Court may appoint, and shall in all cases be made by public auction in manner hereinafter mentioned: Provided that if the pro- perty to be sold shall consist of negotiable securities or of shares in any public Company or Corporation, it shall be competent to the Court, instead of directing the sale to be made by public auction, to authorize the sale of such securities or shares through a broker at the market-rate of the day.
2. In all cases of intended sale by public auction, whether of moveable or immove- able property, in execution of a decree, a notice of the intended sale, specifying the time and place of sale, the property to be sold, and the amount for the recovery of which the sule is ordered, together with any other particulars that the Court may think necessary, shall be inserted in the Gazette: The notice shall also declare that the sale extends only to the right, title, and interest of the defendant in the property specified therein; and a written notification to the same effect shall be affixed in "the Court-house. The sale shall not take place until after the expiration of at least thirty days in the case the case of moveable property, of immoveable property, and of at least fifteen days calculated from the date on which the notification shall have been affixed in the Court-house.
3. The usual process for attachment and sale when the property to be attached con- sists of goods, chattels, or other personal estate other than debts, may be issued either successively or simultaneously as the the Court directing the sale may in each instance think proper.
4. In all cases of sale of moveable property, the price of every lot shall be paid for at the time of sale or as soon after as the Officer holding the sale shall direct, and in default of such payment the property shall forthwith be again put up and sold. On payment of the purchase money, the Officer holding the sale shall grant a receipt for the same, and the sale shall become absolute.
5. No irregularity in the sale of moveable property under an execution shall vitiate the sale, but any person who may sustain any injury by reason of such irregularity may recover damages by a suit in Court.
6. In all cases of sale of immoveable property, the party who is declared to be the purchaser shall be required to deposit immediately twenty-five per centum on the amount of his bid, and in default of such deposit the property shall forthwith be again put up and sold.
7. The full amount of purchase money shall be made good by the purchaser before sunset of the fifteenth day from that on which the sale of the property took place, or if the fifteenth day be a Sunday or other close holiday, then on the first office day after the fifteenth day; and in default of payment within such period, the deposit, after defraying the expenses of the sale, shall be forfeited to Government, and the property shall be resold and the defaulting purchaser shall forfeit all claim to the property or to any part of the sum for which it may subsequently be sold. If the proceeds of the sale which is eventually consummated be less than the price bid by such defaulting purchaser, the difference shall be leviable from him under the provisions of this Code for enforcing the payment of money in satisfaction of a decree of Court.
8. Every re-sale of immoveable property in default of payment of the purchase money shall be made after the issue of a fresh notification in the manner and for the period prescribed for original sales.
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9. No sale of immoveable property shall become absolute until the sale has been confirmed by the Court. At time within thirty days from the date of the sale, application may be made to the Court to set aside the sale on the ground of any material irregularity in publishing or conducting the sale, but no sale shall be set aside on the ground of such irregularity unless the applicant shall prove to the satisfaction of the Court that he has sustained substantial injury by reason of such irregularity.
10. If no such application as is mentioned in the last preceding section be made, or if such application be made and the objection be disallowed, the Court shall pass an order confirming the sale; and in like manner if such application be made, and if the ob- jection be allowed, the Court shall pass an order setting aside the sale for irregularity. 11. Whenever a sale of immoveable property is set aside, the purchaser shall be entitled to receive back his purchase money with or without interest in such manner as it may appear proper to the Court to direct in each instance.
I. C. 248-272.
N-A stamp duty might be imposed on this certificate as on Bonveyances.
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12. After a sale of immoveable property shall have become absolute in manner aforesaid, the Court shall grant a certificate to the person who may have been declared the purchaser at such sale to the effect that he has purchased the right, title, and in- terest of the defendant in the property sold, and such certificate shall be taken and deemed to be a valid transfer of such right, title, and interest, and may be registered in the Land Office under Ordinance No. 3 of 1844.
13. Where the property sold shall consist of goods, chattels, or other moveable pro- perty in the possession of the defendant, or to the immediate possession of which the defendant is entitled, and of which actual seizure has been made, the property shall be delivered to the purchaser.
14. Where the property sold shall consist of goods, chattels, or other moveable pro- perty to which the defendant is entitled subject to a lien or right of any person to the immediate possesion thereof, the delivery to the purchaser shall, as far as practicable, be made by giving notice to the person in possession prohibiting him from delivering possession of the property to any person except the purchaser thereof.
15. If the property sold shall consist of a house, land, or other immoveable property, in the occupancy of a defendant or some person on his behalf or of some person claiming under a title created by the defendant subsequently to the attachment of such property, the Court shall order delivery thereof to be made by putting the party to whom the house, land, or other immoveable property may have been sold, or any person whom he may appoint to receive delivery on his behalf, in possession thereof, and, if need be, by removing any person who may refuse to vacate the same.
16. If the property sold shall consist of land or other immoveable property in the occupancy of other persons entitled to occupy the same, the Court shall order delivery thereof to be made by affixing a copy of the certificate of sale in some conspicuous place on the land or other immoveable property or in the Court-house.
17. Where the property sold shall consist of debts not being negotiable instruments, or of shares in any public Company or Corporation, the delivery thereof shall be by a written order of the Court prohibiting the creditor from receiving the debts and the debtor from making payment thereof to any person or persons except the purchaser, or prohibiting the person in whose name the shares may be standing, from making any transfer of the shares to any person except the purchaser, or receiving payment of any dividends thereon, and the Manager, Secretary, or other proper Officer of the Company or Corporation from permitting any such transfer or making any such payment to any person except the purchaser.
18. Where the property sold shall consist of negotiable securities of which actual seizure has been made the same shall be delivered to the purchaser thereof.
19. If the endorsement or conveyance of the party in whose name any negotiable security or any share in a public Company or Corporation is standing, or in whom any mortgage or equity of redemption shall be vested, shall be required to transfer the same, the Registrar may endorse the security or the certificate of the share, or may execute such other document as may be necessary for transferring the same. The endorsement or execution shall be in the following form or to the like effect- "A. B. by C. D., Registrar of the of Supreme Court of Hongkong; in a suit by E. F. versus A. B."
Until the transfer of such security or share, the Court may, by order, appoint some person to receive any interest or dividend due thereon, and to sign receipts for the same; and any endorsement made or document executed or receipts signed as aforesaid shall be as valid and effectual for all purposes, as if the same had been made or executed or signed by the party himself.
20. If the purchaser of any immoveable property sold in execution of a decree shall be resisted or obstructed in obtaining possession of the property, the provisions contained in section LXXII relating to resistance or obstruction to a party in whose favor a suit has been decreed in obtaining possession of the property adjudged to him, shall be applicable in the case of such resistance or obstruction.
21. If it shall appear that the resistance or obstruction to the delivery of possession was occasioned by any person other than the defendant claiming a right to the possession of the property sold as proprietor, mortgagee, lessee, or under any other title, or if in the delivery of possession to the purchaser any such person claiming as aforesaid shall be dispossessed, the Court, on the complaint of the purchaser, or of such, person claiming as aforesaid, if made within one month from the date of such resistance or obstruction or of such dispossession as the case may be, shall enquire into the matter of the complaint and pass such order as may be proper in the circumstances of the case. The party against whom it is given shall be at liberty to bring a suit to establish his right at any time within one year from the date thereof.
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