V.I. Code tit. 33, § 1055 (2019)
2019 US Virgin Islands Code|Title 33 - Taxation and Finance|Subtitle 1 - Miscellaneous Internal Revenue Taxes|Part II - Procedure and Administration|Chapter 27 - Collection|Subchapter IV - Seizure of Property for Collection of Taxes|§ 1055. Sale of seized property

 Notice of seizure  (a) As soon as practicable after seizure of property, notice in writing shall be given by the Director to the owner of the property (or, in the case of personal property, the possessor thereof), or shall be left at his usual place of abode or business if he has such within the Virgin Islands. If the owner cannot be readily located, or has no dwelling or place of business within the Virgin Islands, the notice may be mailed to his last known address. Such notice shall specify the sum demanded and shall contain, in the case of personal property, an account of the property seized and, in the case of real property, a description with reasonable certainty of the property seized. Notice of sale  (b) The Director shall as soon as practicable after the seizure of the property give notice to the owner, in the same manner as that prescribed in subsection (a) of this section, and shall cause a notification to be published in some newspaper within the judicial division wherein such seizure is made, or, if there be no newspaper published in such judicial division, shall post such notice at the post office nearest the place where the seizure is made, and in not less than two other public places. Such notice shall specify the property to be sold, and the time, place, manner, and conditions of the sale thereof. Whenever levy is made without regard to the 10-day period provided in section 1051(a) of this title, public notice of sale of the property seized shall not be made within such 10-day period unless section 1056 of this title (relating to sale of perishable goods) is applicable. Sale of indivisible property  (c) If any property liable to levy is not divisible, so as to enable the Director by sale of a part thereof to raise the whole amount of the tax and expenses, the whole of such property shall be sold. Time and place of sale  (d) The time of sale shall not be less than 10 days nor more than 40 days from the time of giving public notice under subsection (b) of this section. The place of sale shall be within the judicial division in which the property is seized, except by special order of the Director. Manner and conditions of sale  (e)  (1) Minimum price. Before the sale the Director shall determine a minimum price for which the property shall be sold and if no person offers for such property at the sale the amount of the minimum price, the property shall be declared to be purchased at such price for the government of the United States Virgin Islands; otherwise the property shall be declared to be sold to the highest bidder. In determining the minimum price, the Director shall take into account the expense of making the levy and sale. (2) Additional rules applicable to sale. The Director shall by regulations prescribe the manner and other conditions of the sale of property seized by levy. If one or more alternative methods or conditions are permitted by regulations, the Director shall select the alternatives applicable to the sale. Such regulations shall provide— (A) that the sale shall not be conducted in any manner other than— (i) by public auction; or (ii) by public sale under sealed bids; (B) in the case of the seizure of several items of property, whether such items shall be offered separately, in groups, or in the aggregate; and whether such property shall be offered both separately (or in groups) and in the aggregate, and sold under whichever method produces the highest aggregate amount; (C) whether the announcement of the minimum price determined by the Director may be delayed until the receipt of the highest bid; (D) whether payment in full shall be required at the time of acceptance of a bid, or whether a part of such payment may be deferred for such period (not to exceed 1 month) as may be determined by the Director to be appropriate; (E) the extent to which methods (including advertising) in addition to those prescribed in subsection (b) of this section may be used in giving notice of the sale; and (F) under what circumstances the Director may adjourn the sale from time to time (but such adjournments shall not be for a period to exceed in all 1 month). (3) Payment of amount bid. If payment in full is required at the time of acceptance of a bid and is not then and there paid, the Director shall forthwith proceed to again sell the property in the manner provided in this subsection. If the conditions of the sale permit part of the payment to be deferred, and if such part is not paid within the prescribed period, an action may be instituted against the purchaser for the purchase price or such part thereof as has not been paid, together with interest at the rate of 6 percent per annum from the date of the sale; or, in the discretion of the Director, the sale may be declared by the Director to be null and void for failure to make full payment of the purchase price and the property may again be advertised and sold as provided in subsections (b) and (c) of this section, and this subsection. In the event of such readvertisement and sale any new purchaser shall receive such property or rights to property, free and clear of any claim or right of the former defaulting purchaser, of any nature whatsoever, and the amount paid upon the bid price by such defaulting purchaser shall be forfeited.