The Scope of Asset Declarations in Enforcement Proceedings

Legal Article · 12 November 2026
Av. Thomas Andreas Di Constantinople

An asset declaration is the debtor's disclosure in the enforcement file of property, rights, and receivables capable of satisfying the debt, together with their income position. Its purpose is to provide asset information for attachment and collection. Making an asset declaration is not the same as admitting the debt or undertaking to pay it in full immediately.

Article 74 of the Enforcement and Bankruptcy Law does not limit the declaration to a list of immovable property or vehicles. Earnings and income, rights and receivables belonging to the debtor, and sources of livelihood also fall within its relevant scope. The debtor must explain their economic situation clearly and accurately.

A statement that there are no attachable assets must also accord with the actual circumstances. Having no assets differs from having assets exempt from attachment. Including third-party property in the declaration or concealing a right belonging to the debtor may lead to other disputes and statutory consequences.

The commencement and time limit of the duty to declare assets are determined by the type of proceedings and the warnings in the payment order. A timely objection to the debt may change the file's status. It cannot therefore be generally concluded that an asset declaration must be made at the same time and in the same manner in every enforcement case.

The law contains special provisions on subsequently acquired assets and changes in financial circumstances. For example, a debtor who initially had no income but later receives regular income may affect whether the earlier declaration remains current. The declaration's content, timing, and accuracy are separate subjects of legal assessment.

This article has been prepared for general legal information purposes.