kinnitusvõla

Kinnitusvõla is an Estonian civil-law term for an obligation that arises when the debtor explicitly acknowledges the existence and amount of a debt in writing. The core idea is that the debtor’s own written statement confirms the claim, which can simplify and speed up enforcement compared to proving the debt from a contract or other evidence alone. A kinnitusvõla may be created in different ways, for example through a settlement document, a separate acknowledgment, or a notarial deed where the debtor confirms the debt.

Formation and formality: A kinnitusvõla typically requires a written form. Depending on the case, the acknowledgment may be a signed statement by the debtor and, in some circumstances, may be strengthened by notarization or other formalities. The written acknowledgement serves as the main evidentiary basis for the creditor’s claim, reducing the need to prove the existence and amount of the debt in subsequent proceedings. However, the debtor can challenge the validity of the acknowledgement on grounds such as fraud, duress, misunderstanding, or incorrect information.

Effects: An acknowledged debt is enforceable as a separate obligation, often allowing the creditor to initiate enforcement proceedings more readily. The debtor may owe principal, interest and costs as specified in the acknowledgment or applicable law, and the prescription period, if relevant, generally applies to the acknowledged claim.

Relation to other instruments: A kinnitusvõla is not the same as a guarantee or collateral, but it can coexist with other security interests. It serves as a direct admission of liability by the debtor and can be assigned to third parties or used to secure other arrangements under applicable rules.