State Act

Code of Comunidades of 1961

Art. 286 – The lot auctioned and not awarded because the guarantee offered was not accepted, shall be awarded to the other bidder, if any, recording soon thereafter, the declaration of provisional auction, mentioning therein all the facts that took place and the names of the bidder and his guarantor, whose guarantee was rejected and the price offered. § 1. If no appeal was filed or if filed, it was rejected, the provisional declaration of auction shall be converted in definitive, and the clerk of the comunidade shall note such conversion at the margin of the respective declaration in red ink, and this note shall be authenticated by the managing committee. § 2. If the appeal is accepted, the clerk of the comunidade shall make in the margin of the minutes, the competent marginal note in respective declaration, and consequently the lot shall be let out to the appellant for the price offered, transcribing the same in the respective column, in red ink, and cancelling the one of the provisional lease, also in red ink. This marginal note shall be authenticated by the respective managing committee. § 3. When the managing committee does not admit the guarantee for being unsuitable and the bidder being only one, the declaration of provisional auction shall be written, indicating all the circumstances and this shall be converted into definitive, in case the appeal is accepted. Otherwise it shall be cancelled when the appeal is rejected or when the party fails to appeal and in this last circumstance, the clerk of the comunidade, soon after the expiry of the period, shall announce a new auction, observing the legal formalities. § 4. The note, either of the conversion of the provisional adjudication into definitive, or of its cancellation, shall be recorded, in red ink, and countersigned by the managing committee in the margin.