The Supreme Court allowed the seizure of the heir's only home for his father's debts
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- The Supreme Court allowed the seizure of the heir's only home for his father's debts
The Supreme Court of the Russian Federation has allowed the seizure of the heir's only home to pay off the debts of his deceased father. A precedent-setting case occurred in St. Petersburg, where a son who inherited an apartment was unable to fulfill debt obligations to a construction company left by his parent. This was reported on February 13 on the website of the Armed Forces of the Russian Federation.
A resident of the city filed for bankruptcy, citing the inability to repay a debt of more than 9 million rubles. The creditor demanded that the apartment be included in the bankruptcy estate in order to sell it and cover the debt.
"The court of first instance refused the creditor, pointing out that the disputed apartment is the debtor's only dwelling and is therefore protected from foreclosure by law," the report says.
However, the court of appeal concluded that the son had artificially worsened his living conditions by giving his mother a share in another home. As a result, the cassation reversed this decision.
After that, the creditor filed a complaint with the Supreme Court, pointing to a deliberate sale of housing in order to avoid foreclosure. The Judicial Board for Economic Disputes supported the creditor's arguments, leaving the decision of the court of appeal in force, and the apartment was included in the bankruptcy estate to repay the debt.
On February 11, the State Duma adopted in the first reading a bill that proposes to introduce procedures for the comprehensive settlement of debts owed by Russian citizens on consumer loans and loans. This initiative can help citizens simultaneously reorganize their debts in various financial and credit organizations, banks and microfinance organizations (MFIs).
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