What are the Conditions of Precautionary Foreclosure? In What Conditions Is It Desirable?
We can examine this issue under two main headings: A) Receivables Subject to Precautionary Foreclosure and B) Reasons for Precautionary Foreclosure. First of all, in terms of receivables subject to precautionary foreclosure, the receivable must be a money receivable. As for the request for precautionary lien, the source of the money receivable, the reason and the document on which the receivable depends do not matter. In summary, it is necessary to have a receivable that can be claimed as money or money. Another condition in terms of receivables subject to precautionary foreclosure is that the receivable is not secured by a pledge. If the receivable is secured by a pledge, it is not possible to request a precautionary foreclosure at the rate that the value of the pledged property meets the amount that it will receive; however, a precautionary foreclosure may be requested for the part other than the pledge collateral. We would like to draw attention here that what the law is looking for is that the loan you will receive is secured with a pledge; that is, if the loan is secured with a collateral other than a pledge, a precautionary foreclosure may be requested.
We will consider the reasons for the precautionary lien as general and special reasons. In general, the creditor’s request for a precautionary lien differs depending on whether the receivable is due or not. If you have any requirement of law liens in respect of the receivables due due due yet yet when asked to call non-legislator for receivables is to be asked to cause a team tied to the presence of liens.
These reasons include;
– The absence of a certain settlement of the borrower
– Concealment, Evasion of the Debtor’s Property In Order To Get Rid of His Obligations, Or Prepare To Flee Or Flee, Or Engage In Fraudulent Transactions That Violate the Creditor’s Rights For This Purpose.