Short answer
Nonpayment may lead to recovery from the mortgaged property through the statutory and contractual process. Do not assume one late payment automatically transfers the apartment: a proper basis and procedure are required.
Practical example
A debtor is told the apartment was lost after one overdue day. The result depends on terms, registration, maturity and enforcement mechanism.
What to do
Urgently check the balance, notices and proceedings. Request an itemised calculation. Record negotiated deadlines and suspension terms in writing. Assess any remaining debt after property transfer separately.
Legal basis
Georgian Civil Code — Articles 300, 301, 302. Checked on 28 October 2026. The outcome depends on the contract, facts and evidence.
YURFIRMA can review your documents and help prepare the appropriate demand or agreement. Contact us.
This is general information and does not replace a legal assessment of your specific case. The current law and the relevant facts are checked again when you seek advice.