Article 975 Federal Labor Law

Once the total amount of the price of the adjudication has been deposited, the Court shall declare the auction finalized and the following shall be observed:

I.It shall pay immediately the plaintiff and the other creditors in their order; and if there is a remainder, it shall be delivered to the defendant;

II.If it concerns real property, the following shall be observed;

a)The former owner shall deliver to the Court all the documentation related to the property that was auctioned.

b)If it is awarded to the employee, it must be free of all encumbrances, taxes and fiscal duties.

c)The deed must be signed by the former owner, within the five days following the notification made to him by the respective public notary. If he does not do so, the Court shall do so in his default; and

III.Once the deed is signed, the acquirer shall be placed in possession of the property.