Seizure of property for not returning the loan
Posted on Oct 6, 2000 08:15:27 AM
Foreclose on the debtor’s property for executive documents in the first place begins with its monetary funds in rubles and foreign currency and other valuables, including those located on accounts, deposits or deposited in banks and other lending institutions. Foreclose on the debtor’s funds in foreign currency drawn if the debtor has no or not enough cash in rubles.
If you do not return the debt on the loan, the bank can withdraw from the borrower’s property. The Bank has no right to confiscate from you:
dwelling, if it is only for the debtor,
land on which it is located premises
Home Furnishings,
property for classes of professional activities,
food.
Property is arrested within a month from the date when the debtor receives a decision to initiate enforcement proceedings. If there is a danger of concealing property, its destruction, loss of consumer properties of the property, the arrest of the debtor’s property made jointly with the award debtor decision to initiate enforcement proceedings. Arrest proceedings consists of inventory, ad ban to dispose of property. If necessary, the bailiff restricts the right to use property, withdraws his or deposited.
Forcibly seize property (movable and immovable) only through the courts. Property can be confiscated only for state and municipal needs. A property owner must be notified in advance of the impending seizure. In addition, he must be given fair compensation value of its assets, all losses, including lost profits.
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