Asset Declaration

If you are asked to declare assets in an enforcement file, check the type and stage of proceedings concerned. An asset declaration is a statutory duty concerning the debtor's assets and ability to pay. Believing that no debt exists does not mean all procedural duties automatically disappear.

When Is an Asset Declaration Considered?

When and to what extent a declaration must be made depends on the enforcement type and the file's status. Statements about property, rights, receivables, income, and satisfaction of the debt are assessed within the statutory framework. The declaration must be clear and consistent with existing records; unknown or disputed matters must not be falsely presented as certain.

For example, a company's receivable and a shareholder's personal property are different assets. An attached property or a right in co-ownership must also be explained according to its registration. Preparation requires examination of current asset and enforcement records together, rather than merely changing names in an old template.

Examine the Remedy and the Stage of the File Together

The law prescribes separate consequences for failing to declare assets and making a false declaration. Nevertheless, every payment difficulty does not mean asset concealment or a crime. An undertaking to pay and an asset declaration are also different actions; the obligation created by the signed text must be understood.

Documents to Prepare for the Initial Review

• The payment or enforcement order
• Notices and decisions concerning the asset declaration
• Land registry, vehicle, bank, and receivable records
• Documents explaining income and ability to pay

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