Payment of debts fallen due

(1) The debts which have already fallen due and are approved by all the interested parties, shall be paid immediately in case the creditor demands their payment. Where the inheritance does not have sufficient funds, the court shall order that the assets be sold for the said purpose by public auction. The court shall determine which are the assets to be sold, when there is no agreement in that respect amongst parties who are of major in age or between them and the family council and the parents of the minors.

(2) If the creditor wishes to receive the payment in assets set apart for sale, the said assets shall be adjudicated to him for the price which has been fixed by the court

(3) A private sale shall be held in case all the interested parties agree, or in case of a mandatory inventory, the court so decides, after hearing the family council and the personal representatives of the minors.

(4) When the assets are to be sold by private sale, the interested parties or the Court shall appoint a person and empower him to sell and shall fix the minimum price. The appointed person shall carry out the sale accordingly and submit his report to the Court.

(5) Movables shall be sold by auction at the place where they are lying or in a nearby place where they may be transferred without causing damage or heavy expenses.

(6) Where an irregularity is committed during the auction or it is discovered that assets have been fraudulently described and such fraudulent description has caused grave injury to any party, objections may be filed by such party and the court shall decide on the objections, after recording such evidence as is deemed necessary. If the court is satisfied that irregularities materially vitiating the auction have been committed, the auction shall be set aside.

(7) The court may then hold the auction in the court premises or the assets may be sold by private sale.

(8) The preceding provisions shall apply also to debts which were approved by the court in accordance with the provisions of section 416 and 418, in case the respective order has become final and no appeal has been preferred before the chart of partition is drawn up.