Article 477

Where an order for the sale of immovable property has been issued, if the judgment-debtor can satisfy the court that there is reason to believe that the amount of the decree may be raised by the mortgage or lease or private sale of such property, or some part thereof, or of any other immovable property of the judgment-debtor, the court may, on his application, postpone the sale of the property covered by the order for sale on such terms and for such period as it deems appropriate to enable the judgment-debtor to raise the amount.

In such case the court shall grant a certificate to the judgment-debtor authorizing him within a period to be mentioned therein, to make the proposed mortgage, lease or sale: Provided that all moneys payable under such mortgage, lease or sale shall be paid, not to the judgment-debtor, but, save in so far as a decree-holder is entitled to set off such money, into court.

No mortgage, lease or sale under this Article shall become absolute until it has been confirmed by the court.

Nothing in this Article shall be deemed to apply to a sale of property directed to be sold in execution of a decree for sale in enforcement of a mortgage of such property.