by Brandauer RA

Glossary

Judicial auctions from A to Z.

Key terms around judicial real-estate auctions in Austria, explained in plain language and without concrete case statements.

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A C D E H J L M P R 12 terms

A

C

Court valuation report Court expert report that records the findings on the property and determines its value under the rules governing judicial valuation.

D

Distribution mass Money dealt with in the court distribution proceeding after the auction to satisfy eligible claims.

E

Encumbrance Collective term for burdens on a property whose treatment depends on the type of right, rank and auction file.

H

Highest bid Highest bid submitted for the property during the court auction hearing.

J

Judicial auction Court enforcement proceeding in which land, a superstructure or a building right is realised to enforce an enforceable monetary claim.

L

Land register Public register of ownership, encumbrances and rights over real estate in Austria.

M

Mortgage Security right in rem permitting satisfaction from an asset if the secured obligation is not performed.

P

R

Rank Land-register priority of an entry, which must be distinguished from the statutory order of distribution.

This explanation gives a general overview of Austrian law and does not replace a lawyer’s examination of the individual case.

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