Regulatory Alerts2004-08-03 | Resolución 117/2004Added · Updated
Resolution 117/2004
Resolution 117/2004 amends Article 89 of the Regulation on Portfolio Administration and Asset Sale to clarify procedures for the direct sale of rural assets adjudicated during the BCB IV credit recovery process. It explicitly exempts the mandate holder from the possession requirement under Article 103 for these specific rural properties when custody is difficult or costly, provided there is a formal purchase offer. The amendment mandates that sale publications disclose the presence of occupants and exclude seller liability regarding eviction and title clearance for such properties. The mandate holder must submit all proposals to the Recovery and Realization Committee within 15 days of publication, accompanied by legal, technical, and financial reports, ensuring the offered price meets or exceeds the updated commercial appraisal value but does not fall below the quick sale value.
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