How does the distraint on real estate work?

Do you also have debts that you do not repay? If so, and you do not declare personal bankruptcy, the bailiff may come sooner or later. And his visit is definitely not pleasant.

Why? Of course, since he can confiscate the money from your account, he can grab your salary, just as he can do another thing, which confiscates your property .

Both the movable and the immovable. Today, moreover, the execution of real estate is a very effective way to get money from debtors.

Right of lien entered in the Land Register

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If you own a property, it is of course written in the land register. And that is the executor’s focus first. And often before she informs you about anything. Just the execution of the real estate will be entered in the given ownership certificate . By doing so, you are severely restricted by the bailiff in what you can do with your property. For example, you can’t:

  • Sell ​​to someone else
  • Rewrite to someone else
  • Give it to another person

So with the execution will still be yours, giving the executor the certainty that you have something to entertain. It is only after this step that you are notified in writing that you owe, how much you owe, and that you will be confiscated for your property.

Reader’s tip: Have you read an article from the last week entitled How to stop execution?

If you do not solve the matter, the execution of the property will be auctioned

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If you plan to deal with the whole thing, you can arrange with the executor, for example, in installments, as well as you can also pay the amount owed by your savings.

However, if none of this happens, the auction may be ordered . This will result in your apartment or house being valued and sold as part of the execution. Of course, whoever offers the most for him will logically belong to him.

In this case, of course, the new owner can evict you without any problems. But there are instances when he lets you stay in the apartment, but for the corresponding amount of rent you pay him.

Solutions exist

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Of course, even when your property is officially seized, you have the opportunity to use several different solutions available in our market. If we are to be specific, then among these is the possibility of paying distraint in the form of a credit product.

However, it is not one of the most advantageous and it is always good to remember that you will still be responsible for the property . And if you do not pay even a second loan, it is possible to count on the fact that anyway you lose the property, only it will be in a few months, or even years.

Another effective solution is of course to solve your debts. And not only with the bailiff himself who confiscated the property. It is good to solve your debts with the creditors themselves .

For example, a new payment schedule or debt relief. This has one major advantage in relation to distraints, as reported by FinExpert magazine: “ If a creditor files an insolvency procedure to be settled through debt relief, the claim for which the court has ordered distraint must be satisfied at least 30 percent.

If the court authorizes the debtor to discharge his debt, the execution is not carried out. “

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