THE USE OF A WRIT OF EXECUTION IN THE NOTARIAL PRACTICE

Abstract

The mechanism for the collection of certain debts provided for by the current legislation in a simplified manner, using instead of a judicial process a more abbreviated procedure — the procedure for making an executive notary inscription, is gaining deserved popularity among participants in civil turnover, in particular among qualified participants in the financial sector — credit organizations, banks. Noteworthy arguments characterizing the reasons for using such a mechanism include: — reduction of time for the procedure. If the trial takes months, then when making a writ of execution we are talking about several days; — a simple but clearly formulated procedure prior to contacting a notary; — reduction of financial costs for the collection procedure. This article will consider the practical issues that arise when making a writ of execution that is not related to foreclosure on mortgaged property, taking into account the emerging judicial practice.