§ 4-4. The duty to sell your home in debt settlement (gjeldsordning)
Machine-translated from Norwegian. The Norwegian text is the one that applies. Read the original in Norwegian.Norsk English العربية Polski Українська
The text of the law (unofficial translation)
§ 4-4. The debtor's (skyldner) duty to dispose of the home (bolig)
What does this mean?
The section says that the debtor must sell the home when a sale gives the creditors (kreditor) the best coverage, and the home is larger or more expensive than what the debtor and the household reasonably need. The assessment weighs the market value of the home (what it can be sold for) against the cost of obtaining another home that meets reasonable requirements. The value is set according to the rules in § 4-7. The section is part of the rules on what the debtor may keep, together with § 4-3 and § 4-5. The sale itself is governed by § 4-6.