TDCAA    TDCAA Community  Hop To Forum Categories  Civil    Seized Property Auction
Go
New
Find
Notify
Tools
Reply
  
Seized Property Auction Login/Join 
Member
posted
Does anyone know if you can place a reserve in an auction of property seized through civil forfeiture?
 
Posts: 58 | Registered: August 07, 2008Reply With QuoteReport This Post
Member
posted Hide Post
59.06(a) only requires that the forfeited property be disposed of by the attorney representing the State (typically, the District Attorney)"in accordance with accepted accounting practices." There is no specific requirement for an auction. In fact, there is no requirement that you sell ther property at all. Since you don't have to sell the property, you can certainly set a reserve price, and if it is not met, withdraw the property from the auction.
 
Posts: 188 | Location: Lubbock, Texas USA | Registered: October 04, 2002Reply With QuoteReport This Post
  Powered by Social Strata  
 

TDCAA    TDCAA Community  Hop To Forum Categories  Civil    Seized Property Auction

© TDCAA, 2001. All Rights Reserved.