Rule 1572. Sale Not Confined to Parties.
(a) A sale not confined to the parties shall be conducted in such manner and upon such terms as the court shall direct by local rule or in the order of sale. It shall be subject to the power of the court to order a resale because of inadequacy of price.
(b) A public sale shall be held at such time and place as the court may direct. It shall be advertised in each county where any part of the property lies.
(c) A purchaser who is a party or a lien holder whose lien is discharged by the sale shall be allowed a credit equal to the amount of his or her distributive interest in the purchase price, less any charges assessed against him or her. The excess of the bid shall be paid in cash.
(d) If the court directs a master to conduct the sale, the master before accepting payment for the property shall file a bond in double the amount of the payment or in such lesser amount as shall be fixed by the court.
The provisions of this Rule 1572 adopted April 26, 1955, effective November 1, 1955; amended November 14, 1978, 8 Pa.B. 3410; amended April 12, 1999, effective July 1, 1999, 29 Pa.B. 2274. Immediately preceding text appears at serial page (223292).
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.