Real Estate Guarantees

Real estate guarantees

Introduction

Thanks to the validity of this law, contracts for transferable guarantee are more formal, because these must be submitted in writing, in addition, they are among the guarantor (natural or legal person, whether the debtor or third) and the guaranteed creditor (mustbe registered in the Registry of Movable Guarantees), in addition, the contracts must contain: names, identifications and signatures of the contractors;the maximum value covered by the guarantee;the generic or specific description of the goods given in guarantee;and an explanation of the guaranteed obligations, whether present or future.

In this contracts can be guaranteed the capital of the established debt, its commissions, interests, expenses for the development of the guarantee, the damages that come from the violation of the obligation, etc. In a nutshell, transferable guarantees are open garments.

Developing

Movable guarantees 

Movable guarantees refer to the different operations that are intended to guarantee an obligation of both parties, the guarantor and the inclusive, with the movable property, being established in contracts, pacts or clauses. With this law, the government sought to increase the possibility of people to credit by increasing goods that may be subject to transferable guarantee, in addition, with this it increases to the producing sector.

 In a nutshell, what this law intends is that competitiveness improves in the credit obtaining indicator, since it will help reduce the financing cost of small and medium enterprises.

Similarly, this law sought to correct the problem presented by the pledge contract, which converted a movable good into a guarantee of any credit, because it did not cover with the needs that were being presented at that time, since, since, since,Sales of certain goods remained in the air, because there was no real guarantee for the creditor. 

On the contrary, this law established a registry of all the assets that were established on credit, which would allow to recover these goods more easily. The registration in conjunction with the other elements contained in said law, additionally they have the purpose of improving the business environment and business environment, simplifying the constitution, opposibility, priority and execution of the same.

Thanks to this, this law is widely used by companies, since they could recover good, without the need to start an executive process. Similarly, small businessmen are given benefits, such as: that allows them to build guarantees on movable property;They have the right to claim for the violation of the law, compared to what was presented before the law was issued;These entrepreneurs can use, sell and transform good;and interest rates will decrease by the increase in credits. With this, companies will give people more easily.

This law, in turn formalized various options to achieve the entertainability of this guarantee to third parties. In addition, it can be applied to the movable property that people give it a value, this mainly in new goods. Also, it can be applied to the movable property that does not exist, but that it is estimated to exist, the latter according to article 6, numeral 1, of the law already mentioned. However, these guarantees may not be made in movable property whose exchange, lease, use or sale as a transferable guarantee is prohibited by imperative or public order law.

On the other hand, guarantees can be established in the face of real estate by adhesion, as long as they can separate without any cause to this real estate, according to article 5. This law also applies to incorporable goods, mainly in the patrimonial rights of intellectual property, provided they are not represented by annotations in account, according to article 6, numeral 2.3 and 4.

Thanks to the validity of this law, contracts for transferable guarantee are more formal, because these must be submitted in writing, in addition, they are among the guarantor (natural or legal person, whether the debtor or third) and the guaranteed creditor (mustbe registered in the Registry of Movable Guarantees), in addition, the contracts must contain: names, identifications and signatures of the contractors;the maximum value covered by the guarantee;the generic or specific description of the goods given in guarantee;and an explanation of the guaranteed obligations, whether present or future.

In this contracts can be guaranteed the capital of the established debt, its commissions, interests, expenses for the development of the guarantee, the damages that come from the violation of the obligation, etc. In a nutshell, transferable guarantees are open garments. Movable guarantees registration, this is a centralized classifier method, online, it is very useful and generates benefits because saving can be evidenced not only in money, but also in time. It allows entities to implement more flexible criteria for access to credit due to the presence of easy collection means, this is another benefit which can be noted more in small and medium -sized companies.

Prelation between guarantees, priority is the fundamental method of solving the collisions of guarantees on the assets of the guarantor between creditors.

•  Regarding the guarantees whose entertainability to third parties in accordance with the provisions of the law, occurs due to the possession of the good or control over the bank deposit account, the priority will be determined by the temporary order of its opposibility to third parties.
•  A furniture guarantee that is opposable through its registration in the registry, will have priority on that guarantee that has not been registered.
•  Between a furniture guarantee opposable to third parties through its registration in the registry and a transferable guarantee to third parties for any other form provided for in the law, the priority will be determined, whatever the date of constitution by the temporary order of its registration or bythe date of its entertaining to third parties of being this previous.
•  If the furniture guarantee was not registered in the Registry, its priority against other guaranteed creditors with unregistered transferable guarantees will be determined by the date of conclusion of the guarantee contract.

Opposibility to third parties, it consists of the ability of a person to enforce a right, it is without having been part and without having had a representation in the act. OPHANIBILITY METHODS may vary according to the nature of the goods.

There are two different ways for making transferable guarantees: the special execution, and the judicial.

Special execution, this is that the creditor can be carried out directly, this can only be done in certain cases such as: When the creditor trees the good in guarantee;If good is ephemeral;when a clause of an obligation is fulfilled;if it is mutual agreement between the creditor and the debtor;And if the good has a price less than 20 SMLV. This must be constituted within the contract.

In case the creditor is violated the obligations already established, the debtor must be notified, saying that he has a period of 10 days, to agree on the origin of this execution, in case an agreement is not reached,will give way to judicial execution.

The execution may only have opposition in 4 cases: in the error in the specification of the amount required;in some kind of falsehood in the contract;Disappearance of the Movable guarantee known through the registration certification;Disappearance of guaranteed or not required liability for being tied to a clause with the possibility of a postponement. This must be seen by a court, in charge of resolving the situation, according to the value of the obligation.

conclusion

In this contracts can be guaranteed the capital of the established debt, its commissions, interests, expenses for the development of the guarantee, the damages that come from the violation of the obligation, etc. In a nutshell, transferable guarantees are open garments. Movable guarantees registration, this is a centralized classifier method, online, it is very useful and generates benefits because saving can be evidenced not only in money, but also in time. It allows entities to implement more flexible criteria for access to credit due to the presence of easy collection means, this is another benefit which can be noted more in small and medium -sized companies.

In this method, financial institutions will be registered as guaranteed creditors, so that in this way they establish the guarantees they consider in their favor, in the same way, these may have the consequences of priority with respect to others, of entertaining before third parties and segregation in segregationCase of cancellation. This in order that, if two creditors have guarantees in the face of the same guarantor, it can be determined more easily to respond first.