The new 2018 regulation on auto foreclosure

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Let's examine what the regulation for the year 2018 on the subject of foreclosure car, from the notification of the deed to the actual attachment.

The law concerning the attachment of motor vehicles, was recently amended, with the entry into force of Decree Law No. 83/2015. This provision of law has introduced significant and important novelties as regards forced execution. Among the practical innovations is the reform of the legal act of the precept. There is also the creation of bodies for the settlement of the over-indebted crisis and a new procedure of foreclosure of the automobile for the year 2018. Obviously from creditors who will claim a credit against the debtor

With the entry into force of the new provisions relating to the attachment of the vehicle, there are significant variations in the merits. With the entry into force of Decree 83/2015, the change related to the car seizure, will concern the procedure. The act of foreclosure of the movable property is also innovated

What is the car foreclosure

For car distraint is meant a legal act, guaranteed by Italian law, to protect creditors. It guarantees the revenge against their debtors, in some circumstances, expropriating the property of the debtor's car. The reform related to the forced execution, introduced some news in the attachment. Among them, a new form of act of precept. Other significant innovations are the establishment of special bodies for the settlement of the over-indebtedness crisis. Then there is a series of further simplifications. They will make the procedures of foreclosure no doubt more simple, quick and efficient . Considering all the simplifications made by the new Decree, perhaps the most significant is the one concerning the attachment of automobiles motor vehicles and trailers .

The first procedure forced execution, provided for the obligation of personal notification (substantially by hand); today the obligation to notify the deed of the automobile at the debtor's domicile no longer exists. The new procedure now provides that the creditor and the bailiff can perform all the obligations electronically. Having said that, the seizure of motor vehicles, motor vehicles and trailers, together with the attachment of the salary, will take place after the notification of the debtor. It will also be necessary to write down the deed of attachment, following the procedures provided for by the Public Car Register. Obviously with reference to the execution forced .

According to the new legislative dispositions, the creditor, after having received from the Pra the information relative to the motor vehicles, the motor vehicles or the trailers registered to the debtor, can immediately proceed to notify the deed of attachment

When it happens

The reform related to the forced execution, with reference to the new Art. 521 bis, of the Code of Civil Procedure, provides that the seizure and custody of motor vehicles, motor vehicles and trailers, be carried out by notification to the debtor. Subsequently the transcription of the attachment deed will be carried out. In the act will be reported all the data required by the special law, for its transcription in public records, to submit the assets to execution.

The seizure of a motor vehicle, a motor vehicle or a towed vehicle takes place in the following case. When a creditor, claiming a credit to the debtor, will recover the credit by acquiring the ownership of the vehicle payable to the debtor. The act of foreclosure 2018 is a formal document. Through the same, the debtor will be informed about his debts, of the injunction put in place, of the seized assets

It will also indicate the times and deadlines within which the debtor will have to provide to deliver said goods, together with the documents of ownership. On the merits an injunction shall be made to the debtor to avoid any kind of behavior to remove the asset from the credit guarantee, alienating or hiding it

The debtor will be ordered to deliver the asset to the creditor no later than 10 days together with the vehicle registration document and its supplementary sheet. Thanks to the deed of attachment, the debtor becomes the custodian of the foreclosed vehicle, without the right to compensation, until the moment of delivery of the goods to the authorized judicial sales institute, competent for the territory, according to residence, domicile or headquarters of the debtor. By becoming the custodian of the property, the debtor will also become responsible for any damage found. If a foreclosed vehicle is found by the police to circulate freely on the street, the vehicle will be withdrawn. His documentation will also be withdrawn.

Regulation 2018

The attached good will then be handed over to the judicial sales institute. The institution, in addition to assuming immediate custody, will send an immediate communication to the creditor, through certified e-mail . After the notification is performed, it will be up to the Judicial Officer to hand over the attachment to the creditor, so that it can be recorded in public records. Within a period of 30 days from notification by certified e-mail, the creditor will then be required to file the following documents and documents at the Registry of the competent Court.

The note of registration for the role will be deposited; the certified copies of the enforceable title of the deed of attachment, of the attachment deed and of the transcription note. We would also like to point out how starting from 11 December 2014 in all cases of loss of effectiveness of the attachment, as a consequence of the failure to file documents and documents at the Registry of the competent Court and the transcription of the 'attachment, the creditor must necessarily, within 5 days from the expiration of the term, make communication to the debtor, by means notified act . In these cases, the Pra will request that the declaration of ineffectiveness of the attachment that the creditor must perform, is carried out by private writing, with a special notification from the notary.

The attachment is changed after Equitalia ; according to the Code of Civil Procedure, a creditor can become the owner of a debtor's car. This through a procedure defined as direct assignment of the asset. The creditor will no longer have to auction the debtor's car at the auction institute. The creditor must instead request ownership of the vehicle from the Judge. You will need to file an assignment instance. This is within 45 days of the creditor's deposit of the registration note for the role.

The notes in accordance with the deeds will be added. The Court will subsequently evaluate each individual case, comparing the value of the car with the value of the claimed credit. After this verification, the Court will decide whether to assign the ownership of the vehicle to the creditor, or whether to auction the vehicle itself. In case of assignment of the property to the creditor, if the value of the vehicle is higher than the claimed credit, the creditor will have to pay the difference to the debtor.