What types of compulsory execution are there?

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

This compulsory execution is divided into five main types according to the kind of property that is subject to execution.

First, compulsory execution against real property is carried out against real property owned by the debtor, and it includes the methods of compulsory auction and compulsory administration.

It is applied for in writing to the competent district court and is possible only for registered real property.

Next is compulsory execution against quasi-real property.

Execution may be carried out against registrable ships, automobiles, construction machinery, aircraft, and the like in a manner equivalent to that for real property.

The third type is compulsory execution against tangible movable property.

It proceeds against movable property such as the debtor's furniture, fixtures, and inventory, in the order of ① seizure → ② auction → ③ distribution.

Once property becomes subject to seizure, it is sealed on site or placed in custody, and it is then recovered through public sale.

Fourth is compulsory execution against claims.

Claims that the debtor holds against a third party (such as deposits, wages, and accounts receivable) may be seized.

This leads to actual recovery of the claim through ① seizure of the claim → ② a collection order or an assignment order.

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

The last of the types of compulsory execution is other special objects of execution.

Intangible property such as trademark rights and copyrights may also be subject to compulsory execution, and the procedure and object require legal review depending on the situation.

Under Article 56 of the Civil Execution Act, applying for compulsory execution requires a title of execution, such as a judgment or a payment order.

Because the required documents may differ depending on the type of compulsory execution, it is safer to review the procedure with the help of a professional before actual execution.