From the Latin confiscatio, confiscation is the action and effect of confiscating. This verb refers to confiscate (seize something) or to punish with the deprivation of goods, which become part of the public purse. For example: “After the court order, the police proceeded to confiscate the electrical appliances that had entered the country illegally”, “The street vendors resisted the confiscation of their products with sticks and stones”, “The task of confiscating us it allowed more than 2,000 toys made with toxic substances to be taken off the market ”.
For the law, according to abbreviationfinder.org, confiscation is the power of the State to deprive a person (physical or legal) of possessions without any compensation. These assets pass into the hands of the state.
It is possible to distinguish between confiscation (the main penalty consisting of deprivation of property) and confiscation (the accessory penalty that involves the loss of the effects of a crime and of the instruments that allowed committing a crime).
The ways in which the confiscation is implemented vary according to the legislation. Usually some competent authority (such as police forces) is given the power to seize illegal goods (drugs, weapons, etc.). In some cases, a judge issues the corresponding order for the police to search and confiscate what was found.
In colloquial language, the notion of confiscation is used to name the action of depriving a subordinate of an object by way of punishment. In this sense, for example, the confiscation may refer to the father who temporarily takes away a console or a computer from his son for not having studied for an exam.
Confiscation of a private mortgage contract
The private mortgage contract is an option for those who do not qualify for traditional loans, and in this case the property deed remains in the hands of the seller, while the buyer makes monthly payments until the full price established in the contract is covered. According to the property contract, when the buyer does not comply with the agreement, the seller can resort to confiscation, for which it is advisable to perform the following steps:
* read the contract carefully to make sure you have the right of confiscation. If so, the buyer will have the possibility to catch up on payments, or will be forced to return the property to its original owner;
* send a notice to the buyer, indicating the intention to confiscate the contract, which usually speeds up the process considerably. This notification must be sent by certified mail and it is very important to keep proof of payment;
* Go to the office of the secretary of the circuit, in the jurisdiction of the property, make the payment of the file fees and file the demand for confiscation against the buyer. The court documents must be provided to the buyer and the requirements for the subpoena will be informed by the aforementioned clerk;
* Once the time limit for response by the buyer has elapsed, if he proceeds properly, then he will be summoned to testify, while if he ignores the notification, he will be sanctioned for default in court ;
* appear in court on the scheduled date, with a copy of the contract, the documentation that proves the delay in payments and the dialogues that have been held with the defendant in the attempts to resolve the delinquency. The judge’s decision may oblige the buyer to pay the full price or to cover his late payments; on the other hand, the lawsuit can also lead to a new sale of the property.
When the judge decides that the property be resold, the normal thing is that the only bidder is the original owner, although to receive the title of the property the wait can reach six months.