Protection of the Sole Dwelling in the Possession of the Bankrupt Citizen: Law Enforcement Issues.

Abstract

The important aspect while considering the bankruptcy of citizens represents issues that rise while realization of dwelling, in particular, when this dwelling is the only place of living that belong to the family of the bankrupt person. This dwelling is also the only place suitable for living for such family. In spite of the existing regulation of exclusion of such residential premises from the contest lot of premises when the dwelling is taken from the debtor. Representatives of the legal practice, taking into consideration the unscrupulous actions of the debtor, abuses from their part, have to take other approaches to the established executive immunity. The norms that regulate the issues of the realization of the sole dwelling of the bankrupt citizen, has to be more precise. In particular, there is the need to legally reinforce the requirements that are submitted to the sole dwelling of the debtor. Likewise, there is the necessity to establish the level of luxury of the sole dwelling. It is stated that this issue should be regulated by the lawmaker in accordance with the executive immunity and by meeting creditors’ requirements. Whereas, as it is stated, if the legislative regulations are absent and they do not allow determining the criteria of the sole dwelling of the debtor, it leads to various procedural complications when the case goes to court. In case of taking sole property of the debtor, his or her rights are violated as well as the rights of the members of his or her family and the rights of creditors.