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+34 722 63 61 82 info@erasmusvalenciavip.com

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A Pledge Is a Principal Contract

The laws of Scotland in the United States are generally the same as those of England with respect to commitments. The main difference is that in Scotland and Louisiana, a pledge can only be sold with the judicial authority. In some U.S. states, the common law as it existed outside the Factor Acts is still followed, but in others, the factor has a more or less limited power to assign a title per pledge. [3] If, in your case, all the above conditions are met, you can appeal for the notarized execution of the pledged vehicle. According to article 2112 of the new Civil Code: If the secured obligation arises from a contract between the same party or other parties, this contract is the main contract. The main difference between Roman law and English law is that some things (e.B. Clothing, furniture and tillage instruments) could not be pledged under Roman law, whereas under English law there is no such restriction. In the case of a pledge, a special good passes to the pledge, sufficient to enable him to pursue a wrongdoer, but the general good, that is to say the property subject to the pledge, remains in the pledge.

[3] «The creditor who has not been satisfied with the loan in time can apply to a notary to sell the pledged property. This sale is carried out as part of a public auction and with notification to the debtor and the owner of the pledged object in an appropriate case, indicating the amount for which the public sale is to be carried out. If the item is not sold at the first auction, a second with the same formalities takes place; and if there is no sale at the second auction, the creditor can appropriate the pledged item. 1. Future property cannot be subject to a lien or mortgage.2 A pledge or hypothec executed by a person who is not the owner of the pledged or pledged property is without legal existence and registration cannot validate it3. Share of a condominium – limited to the portion it can sell in the division upon termination of the condominium What is the absolute owner? This means an unencumbered property. The absolute owner has legal and beneficial ownership. In the previous example, P is the rightful owner and S is the beneficial owner. Since this is the case, none of them can pledge the property. .

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