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KKO 4234/1995 AI generated

Supreme Court allows creditors to choose between two mortgaged properties when both are fully listed as debtors.

Case Number KKO 4234/1995
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court ruled that creditors holding claims against two mortgaged properties, both fully listed in the debtor list, may select which property's auction price to satisfy their debt during the division of proceeds. The court found no legal barrier preventing a creditor from exercising this choice when the same claim appears against both properties. Consequently, the decision permits creditors to prioritize the property offering the most favorable financial recovery.

Legislator headnote

AI generated

s. 1000.10 of the Finnish Civil Code; s. 1000.11 of the Finnish Civil Code: When a single claim is fully listed against multiple mortgaged properties, the creditor may elect which property's auction proceeds to apply toward the debt.

Keywords

AI generated
mortgage priority auction proceeds division creditor election right multiple properties Finnish Civil Code

Cited Legislation

AI generated
s. 1000.10 of the Finnish Civil Code
s. 1000.11 of the Finnish Civil Code
AI generated
kko-other_1998_4066
Supreme Court allows creditor to limit guarantor liability to main debt when co-guarantors were contractually restricted.
kko-precedent_1995_148
Supreme Court allows auction dismissal because creditor list for new auction was not binding on prior list.
kko-other_1997_1302
Creditor in debt restructuring must pay client's legal costs for opposing debt restructuring application.
kko-precedent_2000_110
Supreme Court allows recovery claim against guarantor after debtor's repayment to bankruptcy estate via recovery action.
kko-precedent_1996_1
Supreme Court dismisses joint guarantor's claim to negotiate liability due to co-guarantor's settlement.

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Full text

Sama kiinnitys rasitti sekä kanta- että lohkotilaa. Kysymys siitä, saattoiko velkoja, jonka saatava oli täysimääräisenä merkitty kummankin tilan velkojainluetteloon, vasta tilojen pakkohuutokaupan kauppahintojen jaon yhteydessä määrätä, kumman tilan kauppahinnasta se haluaa suorituksen.