Notice of the Supreme People's Court on Correctly Handling Issues Related to the Effectiveness of Waiting for Seizure
2022-05-05 09:59:15
Issuing authority: Supreme People's Court

Document number: Law [2022] No. 107

Release date: April 14, 2022

Effective date: April 14, 2022

Effectiveness level: working paper

Keywords: waiting for seizure, first court seal

main content:

1. Waiting for seizure has the function of ensuring that creditors waiting for seizure can obtain the remaining part after the creditor of the first seal receives compensation from the price of the seized property. After the court of the first seal has realized the disposal of the seized objects, if the creditor of the first seal has received compensation and there is a surplus of the conversion price, the remaining price belongs to the substitute for the seized object, and the effect of the seized object shall extend to the substitute, that is, for the seized object The part of the conversion price that is more than the amount due to the creditor in the first letter has the effect of formal seizure. The creditors waiting to be seized have the right to claim corresponding rights to the remaining payment.

2. Waiting for the seizure is binding on the court for the first seal disposal. When the seized objects disposed of by the first seal court are waiting to be seized, the remaining part of the seized objects after the conversion of the price has been paid off to the creditors of the first seal cannot be directly returned to the person subject to enforcement, and the creditors of the first seal and the person subject to execution have no right to voluntarily or Negotiation process. The first sealing court is obliged to inform the waiting seizing court known before the disposal of the changed price of the relevant disposal situation, and transfer the remaining changed price to the waiting seizing court, which shall handle it in accordance with the law; the case of the waiting seizing court is still in litigation If it is in the process, it should be retained by the first-disposal court, and it will be dealt with according to law after the trial is confirmed.

3. Disposal of the first seal If the court, knowing that the subject matter of the auction is waiting to be seized, violates the above-mentioned obligations and returns the remaining price to the person subject to execution, it constitutes an execution error.

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