Argentina (AR) — civil law.
Nothing on this page describes United States practice. There is no certificate sold to an investor, no administrative sale of land for unpaid tax, and no redemption window after a
subasta judicialin Argentina. If you arrived carrying US assumptions, read falsos-amigos first.
The art. 39 extrajudicial pledge sale
Most vehicles that leave a defaulted car loan are not sold by a court. When the holder of
a `prenda con registro` is the State, a bank, a
BCRA-authorised financial entity or an international financial institution, art. 39 of
Ley 12.962 lets it present the pledge certificate to a judge, who “ordenará el secuestro de
los bienes y su entrega al acreedor, sin que el deudor pueda promover recurso alguno”.
The creditor then “procederá a la venta de los objetos prendados” itself, through a
martillero it engages, and the sale “no se suspenderá por embargo de bienes ni por
concurso, incapacidad o muerte del deudor”. The debtor’s only remedy is a later juicio ordinario. The aviso is unmistakable once you know the formula: a martillero “comunica …
que por cuenta y orden de [the bank] (artículo 39 Ley 12.962) y conforme artículo
2.229 del Código Civil y Comercial … subastará por ejecución de prendas”.
This is a forced sale — the owner did not choose it, and a court order made it
possible — so AuctionBlock lists it, labelled extrajudicial. But it is not a
`subasta judicial`: no judge orders, supervises, approves
or distributes the price; there is no expediente to read, no auto de aprobación, no
court oficio to the registry. The creditor certifies the sale and the DNRPA inscribes on
that certificate (Digesto T.II Cap. II Sec. 5ª), recording “la extinción de la prenda”. The
buyer’s position differs in three ways that matter for price: every debt the aviso
assigns — patentes, taxes, fines, transfer costs — is the buyer’s; third-party
embargos and the owner’s inhibiciones are not addressed by the registry rule; and the
balance is typically due in 24 hours or one business day, with the seña forfeited
otherwise.
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