Warrants of execution against immovable property – when and how are these issued?

Even though immovable property can be acquired by cash sale, most people acquire it by means of applying for a mortgage bond (loan) from a bank (or financial Institution).

For many people this is the most valuable asset they own, which as a result (whether mortgaged or not), is often the only or most feasible asset for creditors (or the bank) to attach in settling a debtor’s (home owner) outstanding debts.

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