İcra Yoluyla Haczedilen Malların Satış Süreci (Altyazılı)

The Process of Selling Seized Assets (with Subtitles) Berkay KARAKAŞ, a lawyer at our office, explains this in this video. ✍🏼 ⚖️ 00:00 Introduction “One of the most frequently asked questions during the enforcement proceedings is this: What happens after a lien is filed? Many people think that a lien transfers the debtor's property directly to the creditor. However, the process is actually quite different. A lien is merely a temporary seizure. The main goal is to put the property up for sale and pay off the debt with the proceeds from the sale. This is where the principle of "conversion into cash" comes into play. In other words, the creditor focuses on the proceeds of the sale, not the debtor's property. This allows the creditor to collect and prevents the property from being sold below its value. So, how does this path to sale work? How is a sale request filed, what are the timeframes, and why is valuation so important? And how is a sale announcement prepared? In the first part of our series, we will explore these questions and examine the step-by-step process of preparing seized property for sale.” 1. The Legal Basis of the Sale Process – The Principle of Encashment One of the fundamental principles applicable in enforcement law is the "principle of encashment." This principle states that the creditor cannot collect a debt directly from the debtor's assets, but rather from the proceeds of the sale of those assets. In other words, the debtor's seized assets are not transferred to the creditor as is; they are converted into cash through an auction, and the creditor is satisfied with the sale proceeds. The principle of encashment represents not only individual debt collection but also a broader legal and economic balance aimed at equitable distribution among creditors and the valuation of assets at market value. This approach... However, with the amendment to the Enforcement and Bankruptcy Law by Law No. 7343, debtors can now request the sale of their seized assets. ... The time periods stipulated in the Enforcement and Bankruptcy Law for requesting a sale are the same for movable and immovable property: • General Rule: The creditor or debtor must request a sale within one year from the date the seizure was actually made. The period begins to run from the date the seizure order is implemented, not the date it is issued. • Exceptional Cases: The enforcement officer may ex officio order the sale of movable property whose value is rapidly declining, whose preservation is costly, or which is prone to deterioration, without requiring a sale request. This practice aims to prevent the property from losing value or incurring unnecessary costs. .... Pursuant to the Enforcement and Bankruptcy Law, a valuation is conducted prior to the sale process to ensure that the property is sold for a price close to its actual value. This procedure is regulated in detail, particularly for immovable property. 3.2. Value Appraisal of Immovable Property For immovable property to be offered for sale, a value assessment must be conducted by an independent and impartial expert. The valuation process proceeds in the following steps: • The expert examines the property on-site. • The market value is determined by considering the property's location, characteristics, market conditions, and current use. • The prepared report explains all factors affecting the value determination with justification. The enforcement officer is obligated to inform the expert of the matters to be considered when preparing the report (e.g., mortgages, liens, and easements in the land registry). ... 4. Objection to the Valuation Report The valuation report directly affects both the creditor and the debtor because it determines the value that will form the basis for the sale of the seized property. Therefore, the parties are granted the right to object if the report is prepared incorrectly, incompletely, or negligently. Objection Period and Procedure Objections to the valuation report are made through a complaint to the enforcement court in accordance with the Enforcement and Bankruptcy Law. ... • If the objection is found to be justified: The current appraisal is cancelled and a new expert report is obtained. • If the objection is rejected: The report becomes final, and the sale process is conducted based on this determined value. • It includes the collateral ratio (10%), • The payment term and method of the sales price, • The rules for submitting electronic bids. The auction specifications govern the rights and obligations of all parties participating in the tender and form the legal basis for the sale transaction. Once the appraisal is finalized and the sale announcement is published, the tender process begins. We will cover this process in the second part of our series. You can access the second part of the tender process through the card in the top right or the window at the end of our video. Stay tuned to stay up-to-date and gain basic information on...