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Receivership proceedings (Zwangsverwaltungsverfahren)

1. Term

The compulsory administration proceedings (sections 146 - 161 ZVG) are, in addition to the compulsory auction and the compulsory mortgage, the third independent type of real estate enforcement with equal rights to the others. It can be chosen on its own or alongside one of the other types of compulsory enforcement (section 866 ZPO).

Through forced administration, the creditor can satisfy himself from the proceeds of the property. In addition, forced administration protects the creditor from reductions in value and other impairments. Pursuant to section 24 ZVG, the debtor retains the management and use of the property despite the seizure in compulsory sale proceedings. On the basis of an ordered sequestration, an appointed sequestrator can bring the property into good condition if possible and secure the proceeds for the creditor. In this context, a forced administration does not have to be carried out according to rigid rules and not according to bureaucratic principles, but according to reasonable economic considerations.

2. Procedure

Pursuant to section 146 ZVG, the provisions of the compulsory sale apply mutatis mutandis to the forced administration. Pursuant to section 150 (1) ZVG, the administrator is appointed by the court. Pursuant to section 152 ZVG, the administrator has the right and the duty to perform all acts necessary to maintain the property in its economic existence and to use it properly. He has to assert the claims to which the seizure extends and to convert the uses dispensable for the administration into money. If the property was given to a tenant or leaseholder before the seizure, the tenancy or lease agreement shall also be effective against the administrator. The administrator is responsible for the performance of his duties to all parties. He must render accounts to the creditor and the debtor annually and after the termination of the administration (section 154 ZVG).

The expenses of the administration as well as the costs of the proceedings, with the exception of those costs incurred by the order of the proceedings or by the intervention of a creditor, shall be paid in advance from the benefits of the property. The compulsory administration proceedings shall be terminated by order of the court (section 161 ZVG). The proceedings shall be terminated if the creditor is satisfied. The proceedings shall be discontinued temporarily if the creditor grants the temporary discontinuance or the debtor applies for it or if there is a prospect that the discontinuance will avoid the auction and if the discontinuance is equitable in view of the debtor's personal and economic circumstances and the nature of the debt.