There is joint partial ownership (50%) of a residential building, another ...?

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Photo of Anastasiia Novikova

... the co-owner expressed a desire to buy back my share from me (I'm not against it either, because it's impossible to coexist there and it's the best option for me), but he wants to make payments in installments over 2 years. I read that the property rights are transferred to him immediately after the execution of the sales contract. How can I protect myself in case of non-payment of the entire amount, or in case of violation of payment terms? I understand that it is due to the court, but the courts can drag on for years, and I will already lose the ownership right.

24.05.2023 17:41 578

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Photo of sikorsky.y.o Yaroslav Sikorsky

You are right, the most reliable way is through the court.

However, there is also an alternative method that is many times faster.

This method is executive inscription of a notary.

A notary's writ of execution is a notary's order to collect money or claim property from the debtor, made on documents establishing the debt (Article 87 of the Law of Ukraine "On Notaries").

The notary makes executive inscriptions if the submitted documents confirm the indisputability of the debt or other liability of the debtor to the debt collector and on the condition that no more than three years have passed since the date of the right of claim.

If a different limitation period is established by law for the claim for which an executive writ is issued, the executive writ is issued within this term.

24.05.2023 21:38

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