Selling to a mortgage buyer in Bulgaria: plan the payment
Buyer approval, property valuation and release of funds are separate steps. The agreement needs to connect them to the seller’s deadlines.
Read article →Non-payment does not automatically return ownership. Check the debt, evidence and remedies before choosing recovery or judicial rescission.
Non-payment after a notarised sale does not automatically return the property to its seller. The seller may seek payment or, where the legal conditions are met, rescission. A contract transferring a right in Bulgarian immovable property must be rescinded through court proceedings.
Compare due dates, financing conditions and actual transfers. If the deed acknowledges receipt of the entire price, that creates an important evidential issue; a later assertion alone does not resolve it. Default generally follows an agreed due date; where no date was fixed, a demand becomes relevant.
Recovering the price preserves the sale. Depending on the document, payment-order proceedings, an ordinary claim and interim security may be considered. Rescission requires assessment of the breach, any required additional period for performance and statutory exceptions. An insignificant failure is not enough.
Check promptly whether the buyer has transferred or encumbered the property. Third-party rights acquired before registration of a rescission claim may limit its effect. Taking possession back without lawful process is not a substitute for legal remedies.
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This article is for general information only. It does not constitute or replace individual legal advice.