Arachin 22 - Debt Collections and Court Auctions
If one dies without paying his debts, the court may have to sell his lands. If he leaves young orphans, the court first appraises the field, then conducts an auction, allowing people to bid on it for thirty days. For a field consecrated to the Temple, the auction lasts for sixty days. During these days there is a public auction announcement in the morning and in the evening.
The auction is an attempt to get higher price for the orphans. Shouldn't it also last for sixty days? - No, this may be counterproductive, since people may retract their bids. Then shouldn't the Temple auction run for thirty days? - No, because an oral bid to the Temple is considered binding, and there the people can't retract.
Why is the announcement done in the morning and in the evening? So that the businessmen could ask their workers to inspect the property on the way home and to remind them to inquire of the results in the morning.
But, as a rule, one cannot collect from orphans while they are minors and has to wait until they grow up. Why didn't the teacher talk about a regular case of heirs? Because he wanted to discuss the exceptonal cases when the court does sell their lands while they are still minors - when there are interest payments on the loan, and they are diminishing the estate.
Art: Georges Sheridan Knowles - The Orphans