What is required from lien holders for an auction to be considered absolute?

For an auction to be considered absolute, it is essential that all lien holders must sign the contract. This requirement ensures that the interests of all parties with a claim against the property are acknowledged and protected. When all lien holders provide their consent, it indicates that there are no conflicting claims that could invalidate the auction results or create legal disputes after the sale. The purpose of having all lien holders involved is to prevent scenarios where a lien holder might later dispute the sale, leading to complications for the buyer and the auctioneer. By requiring all signatures, the process guarantees transparency and secures a clean title for the buyer post-auction.

In contrast, having only one lien holder sign would not adequately safeguard the rights of the others, potentially jeopardizing the auction's legitimacy. Satisfying liens before auctioning may be a prudent course of action but does not inherently make the auction absolute without the necessary signatories. Lastly, requiring lien holders to remain anonymous would diminish accountability and clarity in the auction process, going against the principles of full disclosure and protection of rights.