The Verkhovna Rada limited the sale of debtor's property: what is now prohibited.

According to inkorr.com: The Verkhovna Rada of Ukraine approved in the first reading bill No. 14005, which entails significant changes in the enforcement proceedings system. The main goal of these changes is to strengthen control over debtor's property and simplify the debt collection process.

One of the key innovations is the prohibition on the transfer of property of individuals with outstanding debts. Debtors will not be able to sell, gift, or pledge both movable and immovable property until they settle their debts.

New norms: mechanism of action

The bill provides for the integration of the automated system of enforcement proceedings with state institutions, banks, and financial organizations. The unified register of debtors will receive expanded functionality with the ability to interact with other registers.

The system will automatically check the status of a person in the debtor's register when attempting to make a property transaction. After receiving funds from the debtor, the system will automatically generate a notification about the closure of the enforcement proceedings.

Opinions of lawyers

Lawyers believe that this bill aims to bring Ukrainian legislation in line with European standards and adapt it to modern conditions. The initiative should simplify the enforcement of court decisions and increase the efficiency of enforcement proceedings.

Lawyers also note that the new restrictions on the realization of debtor's property may help solve the problem of utility debts and prevent panic among the population.

Thus, the Verkhovna Rada approved the bill on enforcement proceedings, which entails restrictions on the alienation of debtor's property and increased control over their finances. These changes are intended to simplify the debt collection procedures and align Ukrainian legislation with European standards.