How to proceed when you are facing a foreclosure in Romania for a prescribed debt?

October 14, 202334 Time: 7:38 am

Foreclosure in Romania represents a legal remedy for the situation in which a debtor does not fully and timely fulfill their payment obligation established by a court decision or another writ of execution in Romania. One very important aspect to note is that the right to obtain a foreclosure in Romania is subject to a period of prescription in Romania, which means that such a procedure can only be initiated by the creditor within a general period of prescription in Romania of 3 years, or 10 years in case of real property rights, which starts running when the right of foreclosure in Romania arises. Therefore, if foreclosure in Romania is initiated by a creditor without respecting the period of prescription in Romania, the right to foreclosure in Romania is prescribed and the debtor cannot be compelled to pay the debt. For these reasons, The Romanian Law Firm Pavel, Mărgărit & Associates recommends contacting a lawyer specialized in litigation, foreclosure and appeal in foreclosure in Romania who can provide legal assistance and representation in foreclosure in Romania, because appealing a foreclosure in Romania must be done in a timely manner.

The right of foreclosure in Romania arises when the payment is due and from this deadline the creditors have a prescription period in Romania of 3 years during which they can take all necessary steps to recover the debt. However, if the creditors remain inactive and do not enforce their right through the legal procedures available to them, allowing the prescription in Romania to run out, alawyer specialized in litigation, foreclosure and appeal in foreclosure in Romania can guide you in formulating a defense by invoking the prescription of foreclosure in Romania.

“The right to request foreclosure in Romania is subject to prescription in Romania, and contacting a lawyer specialized in litigation, foreclosure and appeal in foreclosure in Romania is essential to contest a judicial foreclosure in Romania in a timely manner,” says Radu Pavel, the Managing Partner of Romanian Law Firm Pavel, Mărgărit, and Associates.

In the case of initiating foreclosure in Romania for a prescribed debt in Romania, the defense will consist in a contestation of judicial foreclosure in Romania. The procedure for invoking the prescription of foreclosure in Romania involves filing an action with the competent court to annul all acts of foreclosure in Romania based on prescription of claim in Romania and represent an abuse by the creditor. The Romanian Law Firm Pavel, Mărgărit, and Associates recommends contacting a lawyer specialized in litigation, foreclosure and appeal in foreclosure in Romania if you receive a demand for payment, in order to verify the possibility that the debt is not already expired and subsequently invoke the prescription of foreclosure in Romania.

Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2023, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2023 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute R

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