Debt and creditors: dégrèvement, réalisation and remise de biens

Creditors taking ownership of a property (dégrèvement)

Dégrèvement is when banks or businesses apply to take over ownership of a property or a piece of land that’s owned by a person or business who’s unable to pay their mortgage.

The bank or business starts legal proceedings by applying for dégrèvement to help the lender gain money back from a person in debt.

Dégrèvement involves immoveable property: houses or other buildings and land that is permanent.

Belongings sold to clear debts (réalisation)

Réalisation involves movable property such as:

stocks and shares
money
antiques
jewellery
clothing
cars and motorbikes

Réalisation takes place when items owned by a person or a business that’s in debt is sold.

The money made from the items is shared between mortgage lenders and creditors who are owed money.

When a person or business in debt has nothing movable that can be sold to pay for the debt, a dégrèvement will take place without the réalisation.

You can find out more about dégrèvement and réalisation by reading a full guide from the Judicial Greffe and Viscounts Department.

Download Dégrèvement and Realisation information (size 229kb)

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Remise de Biens (remise)

A Remise is considered a privilege given to a debtor who has financial problems.

A Remise is when a person or business that’s in debt and owns real property such as a house hands over their property to be sold to pay for their debt.

The debtor will be expected to listen to the advice of two Jurats who are dealing with the case.

Download Remise de Biens information