Exclusion of Dwellings from Bankruptcy Estate Act

In the case of bankruptcy of an obligated subject of privatisation of a dwelling, the assets specified in subsection 3 (1) of the Privatisation of Dwellings Act (RT I 1993, 23, 411) shall be excluded from the bankruptcy estate.

The following shall not be excluded from the bankruptcy estate

1) the employer's dwelling if the legal person who is the obligor is not liquidated;

2) an unoccupied dwelling;

3) a leased dwelling if the lessee or, in the case of a dwelling with several apartments, all lessees have granted their written consent regarding the sale of the dwelling in bankruptcy proceedings to the trustee in bankruptcy regarding the dwelling pursuant to the Bankruptcy Act (RT 1992, 31, 403).

A trustee in bankruptcy shall give notification of the assets specified in § 1 of this Act included in the bankruptcy estate to the executive body of a local government of the location of the assets within one month after the issue of the bankruptcy order or, if the bankruptcy order has been issued before the entry into force of this Act, within one month after the entry into force of this Act.

A trustee in bankruptcy shall transfer the assets specified in § 1 of this Act into the ownership of the local government on the basis of a legal instrument which is signed by the trustee in bankruptcy and a representative of the local government.