Why Market Valuation Is the Decisive Step
In enforcement proceedings, property placed under seizure is realized by auction, and the success of the auction — and the balance between the parties' interests — depends largely on how accurately the market value of the property has been determined, since the starting price is based on it. An undervaluation prejudices the creditor and reduces the prospect of full satisfaction; an inflated valuation makes the property unsellable and delays the procedure. This stage is governed by Article 47 (assessment of seized property) and Article 48 (the act of description and seizure) of the Georgian Law on Enforcement Proceedings.
This page describes when and by whom the assessment is carried out, what role is played by an expert conclusion submitted by a party to the proceedings, and what the act of description and seizure — the document that records the results of the assessment and becomes the basis for subsequent challenges — must contain.