Foreclosure

When you have a seizure if you have a judgment, disposition or ruling received from the court, then that is called an execution attachment. Executory seizure can also be made if a right of action is recorded in a notarial deed. This is because notarial deeds and judgments are so-called ‘enforceable titles,’ which can be used to ‘execute’ (a form of enforcement). If you first prejudgment attachment laid and you then win the proceedings, that attachment automatically becomes executory.

What happens in foreclosure?

A writ of execution allows the bailiff to seize all of the debtor's assets and then extract them. If a bank garnishment is levied, the bank must actually pay out the bank balance to the garnishee to the extent necessary to satisfy the debt. And if a home or car is seized, they can be sold at auction. The auction proceeds are then after deducting what is pledgees or mortgagees claim, for the garnishee.

What if there are multiple garnishers? 

If there are several distraintors, the one who first distrained is responsible for selling the distrained goods. If he fails to do so, a successive distraining party may apply to the preliminary relief judge to take over the execution. After the execution, the garnishers share the proceeds in proportion to each one's claim. The bailiff of the person who has executed will then distribute the proceeds of the sale. 

Taking over auction by mortgagee

If a foreclosure is levied on a property that also has a mortgage on it, the mortgagee (often a bank) can take over the foreclosure. If that does not happen, the mortgagee can force the mortgagor to proceed with the sale of the property. This can be done by petitioning the preliminary relief judge to give the mortgagee a deadline to proceed with the sale. If this does not subsequently occur, the distraining party in question can proceed with the sale.

Beware of subsequent wrongful seizure

Often, once the court has ruled, a creditor wants to foreclose as quickly as possible. This is because then the creditor will get his money faster. Therefore, it is tempting to immediately instruct the bailiff to immediately start seizing and collecting the debt. But, if there is still appeal or cassation possible against the judgment, then that is not always wise. If the court ruling goes down on appeal or cassation, then there may be wrongful execution. More on that read here.