Sale in Execution:

When the Attorneys acting for the Banks / Financial Institutions receive the returns from the Sheriff in regard to the attachment of the property, which notice of attachment is served at the Registrar of Deeds, the Local Authority, the Receiver of Revenue, the Bondholder (Bank or Financial Institution), the Defendant (if you have changed your domicilium address to your current address it will be that address; if the property is being rented and you have not changed your domicilium address, it will be served at the property address or whichever address you have chosen for service) and the Occupier.

The Attorney then gets a date of sale which must not be less than one month after the service of attachment. An advertisement of the notice of sale appears in the newspaper (Citizen) and the Government Gazette which will be published by not less than five days before sale (it depends from Attorney to Attorney on the newspaper where it will be published and this is the general practice).

The Attorney finds out what the arrear rates and taxes and water and lights are on the property as this will have to be paid by the Purchaser of the property who buys the property at the sale in execution and the Sheriff announces the arrears at the sale so that when a Purchaser wishes to buy he needs to take account of the arrears as well when he is bidding, as he will be liable to pay this to the Council when the property gets transferred into his name.

A notice of sale; Conveyancer’s Certificate (describing the property) and the conditions of sale are drafted and sent to the Sheriff who will be attending to the sale and the conditions of sale may be inspected at the Sheriff’s office.

On the day of the sale the Sheriff then sells the property in execution to the highest bidder (this is also a general practice but depends from Attorney to Attorney) and makes a recovery of the amounts due to the bondholder.