Kizárásáig

Kizárásáig is a Hungarian word that translates to "until exclusion" or "until foreclosure" in English. It is a legal term primarily used in Hungarian property law. The term refers to the period during which a mortgage holder has the right to initiate foreclosure proceedings against a property.

This period typically begins after a borrower defaults on their mortgage payments. The mortgage holder, such as a bank, can then take legal action to seize and sell the property to recover the outstanding debt. The duration of the kizárásáig is determined by specific legal provisions and can vary depending on the type of mortgage agreement and the laws in force at the time.

Once the kizárásáig period has passed without the mortgage holder initiating foreclosure, their right to do so for that specific default may expire. This does not necessarily mean the debt is forgiven, but the immediate threat of foreclosure on that particular mortgage is removed. The borrower may then be in a stronger negotiating position with the lender.

Understanding the concept of kizárásáig is crucial for both borrowers and lenders involved in mortgage transactions in Hungary. It defines the timeframe within which legal remedies, particularly foreclosure, can be pursued.