Any entity can choose to sell its property through a public auction. The currently effective Act No. 26/2006 Coll., on Public Auctions, as amended, defines voluntary and non-voluntary auctions.
A voluntary auction is proposed by the owner of the assets or the liquidator of a bankruptcy or, where appropriate, by the receiver (insolvency receiver) of a bankruptcy. The lien, which serves as the security interest of the creditor’s receivables, is encashed through a non-voluntary auction.
An auction may be held by an auctioneer with an applicable trade licence. The owner or creditor acts as the auction petitioner. The auction itself is managed by an auctioneer, who may be the principal auctioneer himself or by a third person authorised by the principal auctioneer.
In addition, the Ministry settles claims and submissions by natural or legal persons and provides methodological, consultancy and advisory services pertaining to public auctions.
All information on auctioneers and auctions is accessible to the general public at the Central Address portal (www.centralniadresa.cz/cadr), which thereby secures the transparency and publicity of public auctions. The Ministry of Regional Development ensures ongoing updates of auctioneer data and oversees the Czech Post Office PLC, which is the operator of the Central Address portal.