Text of the provision
Sec. 20. Refusal of purchaser to pay. — If a purchaser refuses to pay the amount bid by him for property struck off to him at a sale under execution, the officer may again sell the property to the highest bidder and shall not be responsible for any loss occasioned thereby; but the court may order the refusing purchaser to pay into the court the amount of such loss, with costs, and may punish him for contempt if he disobeys the order. The amount of such payment shall be for the benefit of the person entitled to the proceeds of the execution, unless the execution has been fully satisfied, in which event such proceeds shall be for the benefit of the judgment obligor. The officer may thereafter reject any subsequent bid of such purchaser who refuses to pay.
2019 Rules of Civil Procedure (A.M. No. 19-10-20-SC), Rule 39, Section 20. Reproduced verbatim and verified word-for-word against the Supreme Court's official text and the ChanRobles rendering.
About this section
This is Section 20 of Rule 39 (Execution, Satisfaction And Effect Of Judgments) of the 2019 Rules of Civil Procedure, the rules promulgated by the Supreme Court in A.M. No. 19-10-20-SC and in force since May 1, 2020. The text above is reproduced verbatim from the current rules.
Related provisions
- Section 19 — How property sold on execution; who may direct manner and order of sale.
- Section 21 — Judgment obligee as purchaser.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.