Seizing a debtor’s property is a significant milestone, but it does not guarantee immediate payment. The final hurdle in the debt recovery process is the conversion of physical assets—real estate, vehicles, or equipment—into liquid cash through a forced sale. In Georgia, this is conducted exclusively through the state’s electronic system, e-auction.ge. At Legal Sandbox Georgia, we provide comprehensive legal oversight of this critical phase. We ensure that the asset realization process is conducted transparently, efficiently, and in full compliance with the Law of Georgia on Enforcement Proceedings, preventing procedural errors that could invalidate the sale or delay the transfer of funds.
Our active management begins before the auction goes live. We rigorously review the expert appraisal of the seized property to ensure it reflects fair market value. If an asset is undervalued, it risks being sold for a fraction of the debt; if overvalued, it may attract no bids. We monitor the scheduling and advertising of the auction by the National Bureau of Enforcement to maximize visibility to potential buyers. During the bidding window, we track activity to gauge market interest and keep you informed of the likely outcome.
Crucially, we advise clients on the strategic mechanism of "Acceptance in Kind." If an auction fails due to a lack of bidders (typically after the first or second attempt), Georgian law allows the creditor to take ownership of the seized property in lieu of the debt amount. This is a complex decision requiring a cost-benefit analysis of transfer fees, tax implications, and liquidity. If you choose this route, we handle the entire legal transfer process, registering the property in your name at the National Agency of Public Registry (NAPR) or the Service Agency of the Ministry of Internal Affairs, effectively closing the debt file.
Updated: ...