The master’s thesis thoroughly examines the issue of declaration of the exclusion right in bankruptcy proceedings, focusing on the protection of the ownership rights of the creditors with an exclusion right. The exclusion right allows the real owners to exercise their right to exclude assets from the bankruptcy estate that do not belong to the debtor in bankruptcy. The declaration of the exclusion right must be timely, as only a timely declaration prevents the sale of the asset that is subject to the exclusion right. If the time limit for declaration of the exclusion right is missed, the right does not cease; however, by missing the time limit, the creditor with an exclusion right risks the asset being sold in the bankruptcy proceedings, thereby losing their ownership right over the asset. Entries in the land register, which serve as a basis for establishing the fiction of declaration of exclusion right, act as a protective mechanism that eases the position of creditors with an exclusion right and ensures that the subject of their exclusion right is not sold in the bankruptcy proceedings. The master’s thesis also addresses conflicting opinions of older and newer theories and the stance of judicial practice regarding the legal basis for acquiring ownership right in forced sale proceedings, which further underpins the assessment of whether the principle of reliability can be applied in forced sale proceedings. Throughout the thesis, it becomes evident that the current regulation in the ZFPPIPP generally ensures adequate protection of the ownership rights of creditor with an exclusion right, while also highlighting the importance of timely and correct declaration of the exclusion right or at least the importance of noting legal disputes in the land register to protect (true) ownership rights.
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