Article 60. Foreclosure on a share in the common property The Law on Enforcement Proceedings and the Status of Bailiffs
1. When foreclosing on the debtor's share in the common property, the bailiff is obliged to notify the co-owners of the property and grant them the right to pre-empt the debtor's share in the common property. The value of the share is indicated in the notification based on a written expert opinion.
2. The period during which the co-owner of the seized property may exercise the right of pre-emptive purchase is determined by the Civil Code of the Republic of Kazakhstan and is calculated from the date of notification of the co-owner of the seizure of the debtor's property.
3. If notification of co-owners is impossible due to the uncertainty of their place of residence (stay), their absence from their place of residence and other valid reasons, the sale of a share in the common property may be carried out no earlier than thirty days after the inventory of the property.
4. In the absence of documents on the amount of the debtor's share and (or) the impossibility of determining a specific property equivalent to the debtor's share in the common property, the division of common property, as well as the determination of shares in this property and the allocation of the debtor's share are carried out in court at the request of the bailiff or at the claim of the recoverer.
5. The sale of the debtor's share in the common property is carried out according to the rules provided for by this Law.
The Law of the Republic of Kazakhstan dated April 2, 2010 No. 261-IV.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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