Peculiarities of forewording on real estate

Foreclosure on the debtor's property mainly falls on the property pledged to the bank. In this regard, there is often a problem of lack of housing among the population, which is resolved only through the registration of a mortgage in a bank at a high percentage. It is not always possible to foreclose on the subject of collateral - in this article we will reveal the moment regarding the period of delay in fulfilling obligations, after which the bank will have the right to foreclose on the debtor's property, and we will mention the circumstances that the bank will have to find out before starting the procedure foreclosure. We will also mention what are the restrictions that do not allow banking and other organizations, by virtue of the law, to sell the property of the debtor, even if he allows delays in payment. The question regarding the sale of the debtor's property, which is the only one for him, but at the same time, its cost is excessively high (is it possible to sell it and provide the debtor with a minimum living space or not) will also be disclosed - this practice already exists, but Unfortunately, this issue is not fixed at the level of legislation. These and other gaps in the law were disclosed in this article and it was concluded that in each specific case of a bankrupt default in payment, the fact of bad faith of the debtor should be established. Among the innovations, it was concluded that it is possible to introduce appropriate changes to the legislation regarding the establishment of limits for the effect of executive immunity.