Kathy Salazar

Florida Real Estate

Foreclosure Stoppage

On the basis of article 56 of the law 22/2003, of July 9, bankruptcy law, the initiation of a competition of creditors paralyzes any execution that falls on the assets of the bankrupt which are pertaining to your actividadprofesional or business or to a productive unit in its ownership. These executions are as follows: 1.-arising from titles that involve a real guarantee. 2. The recovery of goods sold under contracts registered in the register of movable property. 3. The recovery of assets pledged as finance leases under contracts that entail implementation or has been registered in the register of movable property. 4. The resolution of sales of real estate by lack of price postponed with adjudicative condition duly registered in the registry of property.

Firstly, it is clear that he is understood by assets pertaining to professional or business activity or a production unit owned by the bankrupt. The conception of the condition of the goods is the cornerstone on which sits the convenience or not of the suspension of execution and, therefore, we anticipate, that its absence prevents, in any way, its suitability to executions of individuals. By this condition is understood those elements of heritage to be used permanently in the activity of the company. This condition is a condition that the competent judge of the contest should go mapping in each case the circumstances resulting in practice concurrent. If the date of the Declaration of the contest any of the executions had begun, the general rule is that they stop until the adoption a Convention whose content does not affect the exercise of that right or any one year without the adoption of any Convention or the opening of the liquidation. Exceptionally, the already initiated implementation will continue if the date of the start of the competition of creditors already have published auction announcements, when executed goods are not necessary for continuity of professional or business activity of the debtor, as in case However, despite the publication of notices, would proceed the stay of execution.

Thu, February 14 2019 » News