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What does immediate enforceability of a notarial record mean? How do you benefit from it? Which contracts can be immediately enforceable?
A contract contains the debtor's obligation to meet the agreement of the creditor in due terms and to duly repay his/her debt under the threat of the execution of his/her assets. Upon signing the notarial record the debtor consents with its immediate enforceability and the creditor is allowed to immediately ask an executor for the subsequent execution. The benefit for the creditor is that he/she does not have to sue the debtor in usually lingering civil proceedings (execution proceedings are not followed by civil proceedings and the debtor’s appeal is not possible), since the debtor’s obligations are recorded in the enforceable notarial deed. In the event of non-fulfilment, immediate judicial execution against the debtor is possible.
Notarial record containing the debtor's consent to immediate enforceability is the most effective method of securing the repayment of a loan.
It is also possible to compose an enforceable notarial deed for an unpaid portion of the purchase price stated in a sales contract, rent payment in a rental lease agreement, etc.
