Buy / Sell Business, Latvia, Legal Counsel, Legislation, Real Estate

Answer: According to Section 633, Paragraph 1, of the Civil Procedure Law of the Republic of Latvia, a person who considers that  he or she has any right to the inventorized movable property or immovable property against which recovery is directed or a part thereof, shall bring an action in court in accordance with general jurisdiction over matters. The claim shall be submitted against the debtor and the creditor, but the bailiff can be mentioned as a third person. If the property has already been sold, a claim shall also be submitted against the persons to which the property was handed over.

Within the frame of such claim the plaintiff shal present evidence to the court proving that the ownership rights of the property belong to him, instead of the debtor.  

In order to prevent the sale of the property in the course of the court proceedings, a petition shall be submitted regarding securing of a claim. According to Section 138, Paragraph 1, Clause 7, the mean by which claims may be secured is postponement of execution activities (also enjoining bailiffs from thansferring money or property to a judgement creditor or debtor, or suspending of sale of property).

A decision regarding an application for securing a claim shall be taken by a court or a judge not later than the day following receipt thereof. In the event of a positive decision, it shall be submitted to the bailiff immediately. The decision of the court regarding securing of a claim may not be appealed and shall be immediately executed.

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