What types of compulsory execution are there?

Compulsory execution is a procedure in which, when the debtor does not voluntarily fulfill the debt, the creditor borrows the power of the court to forcibly dispose of the debtor's property and recover the money.

This compulsory execution is divided into five main types depending on the type of property subject to execution.

First, compulsory execution against real estate is execution conducted against real estate owned by the debtor, and includes the methods of compulsory auction and compulsory management.

It is filed in writing with the competent district court, and is only possible for registered real estate.

Next is compulsory execution against quasi-real estate.

For ships, automobiles, construction machinery, aircraft, etc. that can be registered, execution can be carried out in a manner equivalent to real estate.

The third type is compulsory execution against tangible movables.

It is conducted against movables such as the debtor's furniture, household items, and inventory assets, in the order of (1) seizure → (2) auction → (3) distribution.

If targeted for seizure, the items are sealed on-site or stored, then recovered through public auction.

Fourth is compulsory execution against claims.

Claims that the debtor has against third parties (deposits, salaries, sales claims, etc.) can be seized.

(1) Claim seizure → (2) leading to actual claim recovery through a collection order or assignment order.

In particular, bank account seizure is the most common means of execution.

The last among the types of compulsory execution is other special execution targets.

Intangible properties such as trademark rights and copyrights can also be subject to compulsory execution, and the procedures and targets require legal review depending on the situation.

According to Article 56 of the Civil Execution Act, to apply for compulsory execution, an executive title such as a judgment or payment order is required.

Since the documents may differ depending on each type of compulsory execution, it is safest to receive expert assistance and review the procedures before actual execution.