Parata executio, in Scots law, refers to the completion of all required actions by a creditor to secure payment of a debt. It signifies being fully equipped to collect what is owed to you.
Parata executio, a term used in Scots law, refers to a creditor’s completed diligence that enables them to pursue payment of a debt. For instance, if John owes Mary £1000 and fails to pay despite her attempts to collect the debt, Mary can utilise parata executio to initiate legal proceedings against John in order to recover the debt. This may involve seizing John’s assets or garnishing his wages to satisfy the debt. The example demonstrates how parata executio empowers a creditor to take legal action in order to recover an unpaid debt from the debtor.
Parata Executio is a legal principle that allows a creditor to enforce their claim against a debtor’s property without the need for a court order.
Parata Executio can be used to enforce any type of debt, including unpaid loans, taxes, and fines.
No, Parata Executio is not legal in all jurisdictions. It is only recognized in certain countries and regions.
Parata Executio allows a creditor to seize and sell a debtor’s property to satisfy their debt. The creditor does not need to obtain a court order to do so.
Any type of property that is owned by the debtor can be seized through Parata Executio, including real estate, vehicles, and personal belongings.
Yes, a debtor can challenge Parata Executio if they believe that the creditor has not followed the proper legal procedures or if they believe that the debt has already been paid.
If the creditor sells the seized property for more than the amount owed, they must return the excess funds to the debtor.
No, a creditor cannot use Parata Executio to seize property that is jointly owned by the debtor and another person.
No, a creditor cannot use Parata Executio to seize property that is exempt from seizure under the law, such as a debtor’s primary residence or certain types of personal property.
Ignoring a Parata Executio order can result in the seizure and sale of the debtor’s property, as well as additional legal fees and penalties.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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