In the Mortgage Foreclosure processes, the Auction Preparatory Acts are essential to ensure that a valid and effective act is carried out.

We will break the Auction Preparatory Acts down into steps with a brief explanation:

1. First Step: The Lawsuit
Ensure that the claim complies with all the requirements established by the civil procedure code, including the certification requirement that shows that there are no subsequent registrations that detract from the object of the process.

2. Second Step: Verify the notification to the defendant and Notetakers
This step is essential as it will guarantee that the Right of Defense has not been violated. If the notification was made irregularly, this will lead to an Incident of Invalidity of Notification and all acts will be void.

3. Third Step: Publication of the Edict
The edict communicates the existence of an auction, and will contain at least:
a) Auction Base and Currency
b) Time, place and days of the auctions
c) Property Registration Data and its description or Description of the Personal Property

The publication is made in the Official Gazette (La Gaceta), and will be done twice in consecutive days in the Judicial Newsletter and must be done within a period of at least five business days prior to its completion.

Once the three previous steps have been verified, the auction of the property will take place. It will not be necessary to verify that exceptions have been resolved or that there are pending issues. The auction is held, and its approval will be subject to the verification of the pending documents, presented before or after the auction.

At ERP Lawyers we have a team of experts in the processing of mortgage and pledge executive processes. In case you have questions, queries or need to proceed with the execution of your credit, we invite you to contact us at the email info@erplawyers.com , where we will gladly assist you.