Statutory auctions refer to auctions where the property on sale comprises of property seized from its owners pursuant to the provisions of any written law, court order or contract.
In most cases the property is sold to recover owed debts. For example goods seized form tenants pursuant to the Distress for Rent Act Cap 293, goods seized under the Movable property Security Rights Act 2017, Goods sold under the provisions of the Uncollected Goods Act Cap 38, Hire Purchase Act Cap 547, Property seized under Court warrants of attachment and so on.
In other cases the property could comprise of assets forfeited to Government agencies e.g. exhibits forfeited to courts, property seized by the Local authorities or Revenue authorities, unclaimed lost and found property e.t.c
Upstate Kenya Auctioneers holds the relevant licenses issued by the Auctioneers Licensing Board allowing us to conduct statutory auctions throughout the republic of Kenya. In Nairobi we usually conduct public auctions on Saturdays as from 11.00 a.m.