Vermögensauskunft

Vermögensauskunft is a term from German civil procedure describing a sworn declaration of a debtor’s assets and financial circumstances, used by creditors to locate assets for the enforcement of a monetary claim. The instrument is typically invoked in the context of Zwangsvollstreckung after a judgment or debt collection, when the creditor seeks to determine what property can be seized or garnished.

Legal basis and scope: The requirement arises from provisions of the German Code of Civil Procedure (ZPO), which authorize the court to compel the debtor to disclose assets and income for enforcement purposes. The declaration is usually made as an eidesstattliche Versicherung (sworn statement) before the court. Providing false information can be punishable as a false oath.

Content: The Vermögensauskunft covers the debtor’s personal details, employment and income, bank accounts and other financial assets, real estate and other substantial property, vehicles, business interests, shares, insurance policies, and liabilities. It may also include information about dependents and other financial relations relevant to execution.

Procedure: After a judgment or during enforcement, the creditor applies to the court for a Vermögensauskunft. The debtor appears before the court or an enforcement officer, completes the sworn declaration, and submits supporting documents as required. The court uses the information to plan and execute measures such as wage garnishment, seizure of assets, or sale of property. Data are treated under privacy rules and are accessible to the relevant enforcement authorities.

Consequences of non-compliance: Refusal or evasion can lead to penalties, including court-imposed fines (Ordnungsgeld) and, in persistent cases, imprisonment for contempt of court. The procedure emphasizes accuracy and completeness of the disclosed information.