La. Code Civ. Proc. art. 3273
This is the official text of La. Code Civ. Proc. art. 3273, part of Louisiana’s Code of Civil Procedure — sets the procedural rules for civil lawsuits in Louisiana courts.
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Minimum price; second offering
Official statutory text
The property shall not be sold if the price bid by the last and highest bidder is less than two-thirds of the appraised value in the inventory. In that event, on the petition of the succession representative, the court shall order a readvertisement in the same manner as for an original sale, and the same delay must elapse. At the second offering the property shall be sold to the last and highest bidder regardless of the price.
Status: in_force · Read it on the official government site
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