Is the Auction Operator Required to be an Auctioneer?
Pursuant to Clause 4, Article 6 of the 2016 Law on Property Auction, the principles of auction are stipulated as follows:
- ..........................................
- Protect the legitimate rights and interests of the property owners, auction participants, winning bidders, buyers of auctioned properties, auction organizations, and auctioneers.
- The auction must be conducted by an auctioneer, except in cases where the auction is conducted by the Property Auction Council.
Thus, not in all cases must the auction be conducted by an auctioneer; there will be cases where the auction is conducted by the Property Auction Council.
Respectfully!
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