Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · Louisiana · Title 13 — Courts and Judicial Procedure

RS 13:4360

425 words·~2 min read·/la/title-13/13-1052

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

RS 13:4360
§4360. Resale if required payment not made; resale if adjudicatee fails to pay balance
A. If the terms of the sale provide for the full payment of the adjudication price at the moment of the adjudication, or if the terms provide for a deposit, and the purchaser fails to make the full payment or deposit, the seizing creditor may direct the officer conducting the sale either to reoffer the property immediately or to readvertise the property for sale as provided in Subsection D of this Section. If the property is reoffered for sale immediately, the first purchaser is relieved of any liability. This Subsection does not apply to a sale conducted by online auction in accordance with Code of Civil Procedure Article 2344.
B. In the case of a sale conducted by online auction in accordance with Code of Civil Procedure Article 2344, the purchaser shall pay the adjudication price, and the deposit if the terms of the sale provide for a deposit, by 4:30 p.m. on the first day following the sale exclusive of legal holidays as provided in R.S. 1:55(E)(3). If the purchaser fails to do so, the seizing creditor may direct the officer conducting the sale either to adjudicate the property to the bidder who submitted the second highest bid at the online auction, if that bidder is still willing to purchase the property for the amount of his bid, or to readvertise the property for sale as provided in Subsection D of this Section.
If the property is adjudicated to the second highest bidder, the first purchaser is relieved of any liability.
C. If the purchaser makes the deposit required by the terms of the sale and fails to pay the entire purchase price within thirty days after the adjudication, on demand of any interested party, the officer conducting the sale shall readvertise the property for sale as provided in Subsection D of this Section.
D.(1) When the property is readvertised, it shall be in the manner required by law for the advertisement of the original sale, and the second sale is at the risk and for the account of the first purchaser. Should there be a loss because of the second sale, the first purchaser is liable for the loss; but should the property bring a higher price at the second sale, the first purchaser has no right to the increase.
(2)The first purchaser shall not bid at a second sale.
Added by Acts 1960, No. 32, §6, eff. Jan. 1, 1961; Acts 2023, No. 390, §2.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.