Forced sale (real estate) to satisfy creditors
Forced sale (real estate) – The forced sale of real estate is understood to be the auctioning of the property to satisfy creditors. The initiation and execution of the compulsory auction is carried out by the competent district court and is announced publicly, usually in daily newspapers. A property may be put up for auction by a lending bank if the borrower is no longer able to repay the loan.
Foreclosure (real estate) at a glance: For the enforcement of the claims of creditors
- Bailout
- The auction is initiated and conducted by the competent district court.
- Is announced publicly, usually in daily newspapers
- Property can be put up for auction by a bank if the borrower can no longer repay the loan
Read also:
- Foreclosure explained
- Online portal and local court list
- Prevent foreclosure
- Foreclosure Submission
- Receivership
- Compulsory mortgage
- Tip! This is how an auction works (external): Compulsory auction procedure
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