Receivership of a property
Compulsory administration – If, at the request of a creditor, the local court orders compulsory administration of a property, the creditor is given access to the income from this property. The difference to a forced sale is that the creditor is not satisfied by the substance of the property, but by the current income from the property. Especially in cases where the owner of a property denies access to the creditor, a forced administration is appropriate, as this gives the creditor access.
Receivership at a glance: Access to the income of a property
- Ordered by the creditor through the local court
- In contrast to a compulsory auction, the creditor thereby only receives the proceeds of a property, and not the property itself
- If the owner of a property denies access to the creditor, a forced administration is particularly relevant.
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
Back to the wiki: Real Estate