How is the arrest and the sale of the property of the debtor?

Basically, the property in debtors are taken due to arrears of credit debt.

Someone takes a loan already knowing that he will not pay it. And other citizens have unforeseen situations, because of which they can’t pay the money to the bank.

As a result of unpaid credit obligations, overdue payments appear, a credit history is deployed, the debt is transmitted to either to third parties or collector agencies, as a last resort, the claim is submitted to the court.

Let us discuss in our article, as the arrest of the property of the debtor, as well as its sale.

Suppose that a loan was taken on the security of property. Credit obligations cease to be paid, and nodule begins to grow. When concluding such a contract for a loan, the item is registered in the contract. He reports that in case of non-payment of debt, the Bank has the right to sell the property of the debtor to repay the debt.

Everything is simple. Your property is exhibited for trading, where it can buy absolutely any person. With bidding it and sold. If the first time it did not work out, the price will be reduced, and one more bidding is organized. Then the debt to the bank will be repaid from the reversed money.

This option is the worst outcome for the debtor, as the property is sold with trading for the minimum cost, this happens in order to take his money back in the shortest term.

The loan on the security of real estate does not protect the borrower from the sale of his apartment from the hammer, that is, the law extending to the defense of the only housing does not work.

The court considers the appeal, and makes a court decision. Usually, it indicates a period of which will need to make money.

If the payment from the debtor was not received, the bailiff begins to check — they check the presence of property in the debtor. This is not the only criterion by which the check is occurring. But we will talk about it another time. When identifying the debtor of the property, arrest is superimposed on it.

If the arrest was imposed, the debtor has no right to dispose of his property. Neither sell nor rewrite nor give.

Authorities that can impose on property — arbitration courts, the courts of general jurisdiction, bailiffs are performers, customs or tax authorities (with the permission of the prosecutor), as well as the investigator — with the permission of the judiciary.

The arrest can be filmed after the expiration of the arrest — if the new arrest was not imposed. After removing the arrest bailies, according to a special decree. Or after the fulfillment of the conditions for which the arrest was imposed.

If the limitation period came out and the bank again did not come to court, then the arrest is removed.

We hope that the material was useful for you.