98: Deposit by purchaser in case of sale of immovable property

Deposit by purchaser in case of sale of immovable property.– When the highest bid at an auction has been ascertained, the person who made that bid shall, on the requisition of the officer conducting the sale, pay to that officer a deposit of twenty-five per centum on the amount of his bid and shall, on payment thereof, be declared to be the purchaser, subject to the exercise of any right of pre-emption under the law in force for the time being.

Effective date: 1967-12-07

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