A METHODOLOGICAL APPROACH TO DELAYING THE AUCTION OF AN ASSET

Abstract

Within the framework of the Ecuadorian legal system, civil legislation establishes that the creditor has the power to request, within the executive process, actions that lead to the collection of the debt. In this sense, once the corresponding legal procedure has been initiated and in the course of the execution, when the seizure of an asset has been decreed, it is auctioned. Previously, such property is evaluated by an authorized expert of recognized integrity, who makes an appraisal in accordance with the rules that support his expert report. However, in some cases, it is possible that the seized property is not finally auctioned, which may result in a second and even a third auction. If there are no bidders after these attempts, the plaintiff has two options: to request the seizure of another property or to request a new appraisal of the seized property. Precisely, the issue of the retasa is the main focus of this article, since, after reviewing the rules that could regulate it, it has been noted the lack of its specific regulation.