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Taking part in Auctions in Hungary

By bencel
October 3rd at 4:42am

The Hungarian Courtal Execution Chamber operates the Electronic System of Auctions according to the 1994. LIII ( Vht. ) act regarding courtal auctions and the act of 27/2008. ( XII. 10. ) IRM ( EÁR act ) regarding the operation of an electronical auction system informatical applications. The principles regarding the flow of the auction, participation, jurisdictial consequences, the rights of the participants and obligations, and the usage of the Electronical Auction System are in the Vht. and the EÁR acts. In order to make an offer, it is required that the person, the organization, or the combination of the previous ( stating their rate of participation in acquiring properties ) who is willing to make the offer is registered in the Electronic Register of Auctioneers. The Electronic Register of Auctioneers according to the act of the bum is organized by the Hungarian Executioner Chamber. The registration in the register can be applied for in person at any of the independent bums or bumbailiffs. The user registered in the Electronic Register of Auctioneers by using it's activated password and username is authorized to log in the Electronic System of Auctions. The executioner complying with the request of the applicant activates the username and the password that is required to use the Electronic System of Auctions if the 10% of the initial price has been deposited at the executioner, or it has been transferred and has been confirmed on the executioner's account and the the rules regarding the participation in the auctions are satisfied. The activation request has to be initiated through the Electronic System of Auctions' platform.



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