Failure to declare assets may result in penalties

Mondo Social Updated on 2024-01-28

When the court enforces the law, it often requires the person subject to enforcement to declare the property, which is to better grasp the clues of the property of the person subject to enforcement and facilitate enforcement

1. Provisions of the Supreme People's Court on Several Issues Concerning Property Investigation in Civil Enforcement Stipulate the Provisions on Property Declaration.

Where a people's court orders the person subject to enforcement to report on the circumstances of the property on the basis of the application or ex officio of the person applying for enforcement, it shall issue an order to the person subject to enforcement to report the property. In the enforcement of monetary claims, the order to report assets shall be issued at the same time as the enforcement notice. That is, all enforcement cases require property reporting.

2. Ignore the consequences.

Failure to do so generally includes refusal to file, false reporting, late reporting, fines, detention, and the consequences for the main and directly responsible persons of the unit face the same.

3. All property should be reported.

Generally, it includes movable property, immovable property, creditor's rights, etc., even if it is joint property with others and property with mortgages, it must be reported and must not be omitted.

Fourth, fines and detention are a little more effective than being on the blacklist.

Some people are indifferent to being on the blacklist, so communicating with the enforcement judge in a timely manner may have some effect if they are detained.

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