Legal Definitions - exécution parée

EXÉCUTION PARÉE

Exécution parée is a legal term in French law. It refers to a right that a creditor has, which is based on an act that has been approved and verified by a notary. This right allows the creditor to immediately seize and sell the debtor's property without any citation or summons. The proceeds from the sale can be kept by the creditor to pay off the debt owed.

For example, if a person owes money to a creditor and has not paid it back, the creditor can use exécution parée to seize and sell the debtor's property to recover the money owed. This can include things like a car, a house, or other valuable possessions.

Another example would be if a business owes money to a supplier and has not paid it back. The supplier can use exécution parée to seize and sell the business's assets to recover the money owed.

These examples illustrate how exécution parée can be used by creditors to recover money owed to them without having to go through a lengthy legal process.