ulosmittaamisen

Ulosmittaaminen is a legal process in Finland by which a creditor can enforce a debt against a debtor's assets. It is a public enforcement measure that allows a creditor to seize and sell the debtor's property to satisfy an outstanding debt. This process is governed by the Enforcement Code (ulosottolaki) and is overseen by enforcement authorities.

The primary purpose of ulosmittaaminen is to ensure that creditors can recover money owed to them when a debtor is unwilling or unable to pay voluntarily. The process typically begins when a creditor obtains a legally enforceable judgment or order against the debtor, such as a court ruling or a payment order. Once this is secured, the creditor can apply to the enforcement authority for ulosmittaaminen.

Before assets can be seized, the enforcement authority will investigate the debtor's financial situation to identify assets that can be subject to ulosmittaaminen. Common assets that can be seized include wages, bank accounts, real estate, vehicles, and other valuable property. However, Finnish law also protects certain essential assets from seizure to ensure the debtor can maintain a basic standard of living. These protected assets are detailed in the Enforcement Code and can include a certain portion of income, basic household furnishings, and tools necessary for a profession.

Once assets are identified and deemed eligible for ulosmittaaminen, the enforcement authority will take possession of them. This can involve freezing bank accounts, placing liens on property, or directly seizing movable goods. The seized assets are then typically sold through an auction or other public sale, and the proceeds are used to pay off the debt owed to the creditor. If the sale of assets does not cover the full amount of the debt, the debtor may remain liable for the remaining balance, and the creditor can pursue further enforcement actions in the future. The process is intended to be fair to both the creditor and the debtor, balancing the right to recover debts with the debtor's right to a minimum standard of living.