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Public roup meaning
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What does Public roup mean?
Public roup is the Scots law term for a sale by public auction, open to competitive bidding by the public. The term is descriptive rather than a defined statutory concept, but is well established in Scottish case law and conveyancing practice and appears in older legislation and court materials.
Key features include prior advertisement, an auctioneer or officer of court, and “articles of roup” (conditions of sale) governing matters such as reserve/upset price, bidding, deposits, completion and risk. On the fall of the hammer a binding contract is formed in accordance with the articles of roup (for heritable property, these usually constitute the missives), with settlement by delivery of a disposition or transfer.
Public roup is commonly used to sell heritable property and moveables by administrators, liquidators, trustees in sequestration and heritable creditors, and for enforcement sales by sheriff officers following diligence.
In England & Wales, Northern Ireland and Ireland, the equivalent transaction is a public auction. The legal effect is similarly governed by the published conditions of sale, but the word “roup” is not generally used outside Scotland. Public roup/auction is often chosen to demonstrate open marketing and to obtain the best price reasonably achievable.
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View the related Practice Notes about Public roup
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