Seizure is the process of seizing the movable and immovable properties of the debtor by the state in order to collect the debt of the creditor. If the debt is not paid, the creditor may initiate enforcement proceedings and request a lien. This process is carried out by bailiffs and is a legal process.
How to File a Seizure?
In order to place a lien, there must first be a finalized enforcement proceeding. The creditor applies to the enforcement office and requests a lien. If the request is accepted, enforcement officers carry out the seizure process. During the seizure process, a report is prepared regarding the seized goods.
Which Goods Can Be Seized?
Seizure can be placed on all movable and immovable properties of the debtor. In this context;
Immovable properties such as house, car, land
money in the bank
Wage
pension
Receivable rights
securities
business assets
Such goods can be seized.
Lien Types
Liens are divided into different types according to the way they are placed:
Final Seizure: It is the seizure of property in an amount that will cover the entire receivables of the creditor.
Partial Seizure: It is the seizure of property in an amount that will cover a portion of the creditor.
Temporary Seizure: It is a lien placed as a precautionary measure to collect the receivable in question.
Rights Regarding Seizure
The debtor has some rights regarding the seized goods. These rights are:
Foreclosure Complaint: If the debtor thinks that the foreclosure is unlawful, he can file a foreclosure complaint with the enforcement court.
Lien Removal Case: The debtor may file a lawsuit in the enforcement court to remove the lien.
Third Party Objection: If a third party claims to be the owner of the seized property, the third party may file the objection.
Seizure Does Not Prevent the Payment of Debt
A lien does not prevent the payment of the debt. The debtor can pay his debt without selling the seized goods. If the debt is paid, the lien is automatically lifted.
Things to Consider About Foreclosure
While lien is a legal sanction, it can have a significant psychological impact on the debtor. Therefore, it is important for borrowers to pay off their debts to avoid facing foreclosure.
