Arizona Laws 12-1622. Procedure in selling property under execution
A. All sales under execution shall be made at public auction to the highest bidder, between the hours of ten a.m. and four p.m.
Terms Used In Arizona Laws 12-1622
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
B. After sufficient property has been sold to satisfy the judgment and costs, no more shall be sold.
C. No person making the sale shall become a purchaser or be interested in such sales.
D. When the sale is of personal property capable of immediate delivery, the property shall be within view and shall be sold in parcels so as to bring the highest price and the judgment debtor or creditor may direct the selling officer in such cases.
E. Partnership interests and interests in personal property without right to exclusive possession may be sold without the presence or the delivery of the property.
F. When the sale is of property too bulky to be taken into immediate possession, or of livestock running at large on a range, it is not necessary that such property or any part thereof be present at the place of sale, and the purchaser at the sale may take the property or gather and pen the stock and select therefrom the number purchased by him.
G. When the sale is of real property, consisting of lands that may be sold in parcels, it may be sold separately at direction of the judgment debtor, who shall have the option of designating the order in which parcels shall be sold.
H. When property is held in common, the interest of the judgment debtor shall be sold as a whole.
I. Shares of stock in a corporation may be sold as other personal property capable of manual delivery is sold subject to the provisions of section 47-8113.