Parties In A Pledge Agreement
That`s impossible. For example, a pawn taker has constructive possession of the contents of a safe in a bank if the pfandgor gives the pawnbroker the only keys to the box. The directive is the pig of Roman law, from which most of modern European law derives on this subject, but which is generally a feature even of the most fundamental legal systems. It differs from the usual assumption and mortgage by the fact that the pawnbroker is in possession of the deposit.  However, the same is true in that the three persons and all real estate properties can be owned. A pledge of personal property is called peasant and that of real estate called Antichressis. In the event of a seizure, both parties have certain rights and debts. The pawn contract represents only one sentence: the conditions under which the debt or commitment is fulfilled and the mortgaged assets are returned. On the one hand, the right of subjugation extends to the preservation and protection of its property while it is in the possession of the pawnbroker. Accommodation cannot be used without permission, unless use is necessary for its preservation, for example. B the exercise of a living animal. Unauthorized use of the property is called processing and may make the deposit-taker liable for the damage suffered; Maria should not use Jean`s stereo when she owns it.
On the other hand, for the pawnbroker, there is more than the obligation to take care of the ownership of the pledge. The pawnbroker is entitled to the possession and control of all income collected during the collateral period, unless otherwise agreed. This income reduces the amount of the debt and the pfandgor must bring it to justice by the pawnbroker. In addition, the pawnbroker is entitled to reimbursement of the costs incurred by the preservation, maintenance and protection of the property. Finally, the pawnbroker must not remain a party indefinitely to the deposit agreement. It may sell or sell its shares in the pawn contract to a third party. However, the pawnbroker must inform the pledge that the deposit contract has been sold or reassigned; Otherwise, she is guilty of conversion. Since the undertaking benefits both parties, the duty of instruction is required to exercise only ordinary diligence as to the undertaking made. The pawnbroker has the right to sell the collateral if the deposit does not provide the payment on the agreed date. As a result of an illegal sale, no property is guaranteed to a third-party buyer, unless it is a transfer of property such as money or marketable securities. In all other cases, persons without notice (BFP) must prove that they are a good faith buyer. For certain types of assets, as defined in the detailed laws of the jurisdiction, such a new owner (BFP) must have first consulted (before the purchase) without any other property being disclosed, and then have issued a public notice or registered its title before the Pfederin in a register recognized by the courts.