What are the Conditions of Pre-Foreclosure? Under What Conditions Can It be Requested?
We can examine this issue under two main headings: A) Receivables Subject to Precautionary Foreclosure and B) Reasons for Precautionary Foreclosure. First of all, it should be that the money you will receive in terms of the right to pledge should be received. As for the injunction request, it does not matter the source, reason and which document you will receive the money depends on. In summary, there must be a receivable that can be requested in money or cash.
Another condition that you will be subject to precautionary seizure is that it is not secured by the pledge that you will receive. If the receivable is secured by a pledge, precautionary foreclosure cannot be requested at a rate that will cover the receivable of the value of the pledged property; however, a precautionary lien may be requested for the part other than the pledge guarantee. The point we want to draw attention to here is that what the law is looking for is secured by the pledge you will receive; that is, if the receivable is secured by a guarantee other than the pledge, a precautionary lien may be requested.
We will consider the precautionary reasons as general and specific reasons. In general, it differs according to whether the creditor’s pledge request is due or not. While precautionary foreclosure can be requested for overdue receivables without any conditions, the legislator has made it possible to request precautionary foreclosure for overdue receivables depending on the existence of more than one reason.
These reasons are:
– The borrower does not have a specific residence
– The debtor, violating the rights of the Creditor, hiding, kidnapping or preparing to escape, running away or engaging in fraudulent transactions in order to avoid obligations.