Transfer in lieu of payment

Transfer in lieu of payment

Law Office Alina Szilaghi provides complex assistance and representation services on the transfer in lieu of payment procedure.

Transfer in lieu of payment

The Law on the payment of immovable property in order to settle its obligations under loans.

According to the aforementioned law, natural persons or groups of individuals established in associations who buy, acquire, use or consume products or services, outside their professional activity, have the right to terminate mortgage loans by paying the mortgaged property in favor of the creditor.

In other words, if you have a bank credit for a home and you can no longer bear the cost of the credit agreement or you no longer want to continue the contract for other reasons, there is the possibility of extinguishing all the debts arising from the credit agreement by giving up the ownership right of housing in favor of the bank.

The initiation of the payment procedure of the dwelling is done by sending a notification to the bank through a lawyer.

Legal services

  • Specialized legal advice on the payment procedure;
  • Writing and transmitting a notice to the bank or another creditor;
  • Negotiation for establishing favorable contractual conditions;
  • Forms and support action for finding extinction obligations credit agreement and transfer of property right;
  • Assistance and representation before courts of law, notaries, banks or creditors at any stage of the payment procedure.

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