Jurisprudence - compulsary execution-forclosure

Massive legal costs are a certain.

Foreclosure is the legal and professional proceeding where a lender obtains a court ordered termination of a debtor's equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills.

  • Demand letter outside a legal enforcement agency/ part-payment option
  • Proceed summons
  • Proceed with foreclosure process filing request into debtors registry after statuary declaration has been pertained
  • Confiscation and cessation of goods carried out by the bailiff or sheriff's department.
  • Seizure of existing bank account(s)
  • Mortgagee Auction

In order to calculate costs in either the first type of scenario or the latter as illustrated above, clients are able to get a concrete idea about legal costs. The costs depend on the disputed sum or assets in accordance with lawyer's remuneration laws.

The range of services offered is addressed to entrepreneurs in terms of § 14 German Civil Code (BGB).