Auction sought by third parties

Article 941 – Auction sought by third parties - Any of the interested parties may apply that the property be put in auction for the highest price obtained above the price offered by the new possessor, or as per his estimate in the following cases:- 1. When the new possessor does not redeem the mortgage in the manner established in article 938. 2. When, the new possessor proposes to redeem the mortgage, in the manner established as no.3 of article 938, but the amount offered by him, for the payment to the creditors was less than the computation of privileged creditors and of burdens registered before the mortgages to which the property was subject.