Unlike a fixed mortgage, it is not necessary to notably certify a mobile mortgage contract to be valid, because a private deed is sufficient. The mortgage may be granted on any type of movable asset of the debtor concerned, including future assets (with the exception of future bank accounts), but the guarantee takes effect only when the debtor has acquired rights in the assets in question and the secured obligation has been established. To be effective vis-à-vis third parties, a mobile mortgage contract must be registered in the Romanian National Register of Mobile Security Advertising. One of the other advantages of a mortgage is that it remains tied to the property on which it is granted and is therefore not affected by subsequent changes in ownership. The only way to withdraw the mortgage is after the repayment of the mortgage lender`s debt according to the terms of the mortgage deed or with the agreement of the creditor. Therefore, the Mortgagor must be the beneficial owner of the property to obtain a mortgage. Movable assets may be mortgaged by registration in the national deposit register. This seizure of the register means that all movable, material and intangible assets, in whole or in part, can be mortgaged by a private agreement. This guarantee applies between the parties from the date of its closure, but to be enforceable vis-à-vis third parties, the deposit obligation must be registered in the national register of deposits.
This registration is valid for a renewable period of 10 years. Pledging of movable assets also applies to third parties by the mere fact that the pawn-take possession of the assets in question. Banks may also take charge of a violation of the rights of the contract(s) of sale (if any). We work with both lenders and borrowers on commercial or private loan contracts. Our team of banking experts can help you prepare documents for secured or unsecured entities and review the terms of the proposed facility agreements. Mortgages are governed by specific laws, which are mainly contained in the Mortgage Loan Law, but also in the Russian Civil Code. A mortgage allows the mortgage holder to obtain set-off for the debtor`s default under a security obligation in principle, taking precedence over unsecured creditors. A mortgage is a burden on the property and limits the mortgage debtor`s right to the free use and assignment of that property. For example, the debtor can only dispose of the mortgaged property with the agreement of the mortgage debtor (unless the mortgage contract does not decide otherwise).
As a general rule, if the property changes ownership and the mortgage has not been relieved, the mortgage on that property is maintained. This is an agreement between a borrower and representatives of the lender, which gives these representatives the power to subsequently insure the lender`s claim by creating a mortgage against the borrower`s property up to the amount agreed in the mandate. Mortgages on land and/or buildings take effect with the registration of the mortgage; other mortgages are effective when the mortgage contracts come into force, but are subject to perfection by registration. Registration is governed by a number of government agencies. The most typical security created or concluded by an investor who will go on loans to acquire or develop real estate in Thailand is the real estate mortgage. A mortgage contract is defined as a contract in which a person called Mortgagor mortgages a property to another person, called a mortgage borrower, as collateral for the performance of an obligation without handing over the property to the mortgage lender. This is a kind of charge on immovable property or other immovable property registered as a guarantee of repayment of the debt, provided that, if the debtor does not repay the debt, the holder of the mortgage credit is entitled to enforce the mortgage and recover the debt from a public auction of the property or asset; provided that the mortgage is repaid if the conditions of the mortgage have been met or fulfilled. . .