Definitions

1. A hypothec is a legal instrument similar to a pledge which basically has the effect of endorsing certain movable property with the right of another.

Floating

1. A hypothec is extinguished by the extinction of the obligation whose performance it secures.
2. A hypothec extends to everything united to the property by accession.
3. The floating character of the hypothec shall be expressly stipulated in the act.
4. The sale of an enterprise by the grantor may not be set up against the holder of a floating hypothec.
5. Only a person or a trustee carrying on an enterprise may grant a floating hypothec on the property of the enterprise.

Subject

1. Vessel hypothec contract should contain following clauses.
2. The subject of vessel hypothec is vessel which features are described above.
3. Property on which hypothec is set is hold by depositor in his possession and application.
4. Parties of contract may entrust an appraisal of subject of hypothec to independent professional organization.
5. Subject of hypothec is defined in contract by indication of its name, location and description sufficient for subject identification.

Hypothecs

1. No creditor may require that the sale be subject to his hypothec.
2. Among them are mortgage and hypothec, as a kind of mortgage.
3. The hypothec agreement is made only when the lessee intends to pay for the land parcel in installments.
4. In respect of one hypothec on more than two pieces of real estate, the interested real estate shall be regarded as one piece of collateral. (Web site)
5. In case of the latter, the land parcel and other real estate that the buyer intends to purchase is encumbered with hypothec to guarantee the full payment.

Creditor

1. The creditor may not object to the transformation on the ground of his hypothec.
2. This is the case when the creditor recovers its monies through the realization of the hypothec object.

Property

1. A movable hypothec may be created with or without delivery of the movable hypothecated.
2. In accordance with this law hypothec in established immovable property.
3. A floating hypothec has effect only if it was published beforehand and, if immovable properties are charged, only if it was registered against each of them.
4. I shall now refer to the second form of legal hypothec, that is, that given to unsecured creditors on the real property of a deceased debtor.

Hypothec Contract

1. The hypothec contract is considered concluded and enters into legal force from the moment of its state registration.
2. Hypothec contract should contain subject of hypothec, its appraisal, essence, amount and term of liability fulfillment secured by hypothec.
3. Liability secured by hypothec should be mentioned in hypothec contract with indication of its amount, occurrence basis and term of fulfillment.

Real Estate

1. Hypothec is mortgage of real estate.
2. The real estate that creats the hypothec before bankruptcy is excluded from the bankrupt property after the mortgagor becomes bankrupt. (Web site)
3. Each party receives a copy and land and other real estate purchaser submits the third copy with the Public Registry for registration of the hypothec right.

Trustee

1. In open list this law indicates: servitude, hypothec, asset management (trustee), rent.
2. Accordingly, the Caisse held a movable hypothec with delivery that it could set up against the trustee.

Legal Hypothec

1. The privilege attached to many municipal claims was replaced either by a prior claim or a legal hypothec.
2. A legal hypothec is only acquired by and upon registration.
3. Furthermore, special provisions are made in certain acts that grant to municipalities a legal hypothec for their claims.

Landlord

1. The Landlord may also bring the hypothec into effect by interdicting the tenant from removing goods from the premises. (Web site)
2. Landlord's hypothec is enforced by court proceedings known as sequestration for rent. (Web site)
3. The hypothec does not secure all sums which happen to be due to the landlord, only a portion of the rent. (Web site)

Rdquo

1. Hypothec therefore came to be known as “pledge without possession”.

Registered

1. These judgments did not need to be registered in the Public Registry in order to create a hypothec.
2. A mortgage not registered in the Hypothec Register shall not be valid.
3. The Merchant shipping code provides for three bases of termination of sea ship hypothec.
4. Ships hypothec is to be registered on the base of application of powner after registration of property law on ship.
5. Merchant shipping code states obligatory state registration of ships hypothec in respective ships register.

Delivery

1. This suggests that the hypothec contemplated by this article is a movable hypothec with delivery.
2. Article 1641 C.C.Q., which deals with assignments of claims, cannot be harmoniously incorporated into the concept of a hypothec with delivery.

Force

1. For example, the imperative hypothec occurs in force of p.
2. Let-s examine in details in peculiarities of legal hypothec, originating in force of article 77 of Hypothec law.

Date

1. This meant that they did not create a hypothec and did not rank according to their date in a bankruptcy.
2. If the acte or judgment is not delivered to the Registrar within that period, the hypothec shall date from the day of delivery.

Origin

1. In all 6 cases the bases of hypothec origin was contract.
2. Thus, vessel hypothec should meet the special requirements.
3. During the hypothec period, the joint guarantee obligations are inseparable. (Web site)
4. Any real estate can be a subject of hypothec, except for real estate that is withdrawn from turnover.
5. In first case, its origin result from the article 77 of Hypothec law, which permissive rule is questionable and dissimilar.

Movable Hypothec

1. A movable hypothec assumed by a purchaser may be published.
2. A movable hypothec granted with delivery may be published by registration at a later date, provided publication is not interrupted.

Certified

1. Accordingly, he certified to the vendor that the claim transferred to him by the purchaser was a valid third-ranking hypothec.
2. If rights of pownee are certified by letter of hypothecation, it should be indicated in hypothec contract.
3. The Bond of Pledge has to be certified by the notary and registered with the Hypothec Register administered by the Hypothec Offices at Local Courts.

Registration

1. Besides the Law about state registration of rights, the matters of hypothec state registration are also regulated by Hypothec law.
2. The holder of a floating hypothec may not exercise his hypothecary rights until after registration of notice of crystallization.

Third

1. The depositor can be a debtor himself under the liability secured by hypothec or a person not participating in this liability (third party).
2. A movable hypothec on a claim held by the grantor against a third person or on a universality of claims may be granted with or without delivery.

Parties

1. In this case hypothec originates as -an unconscious- consequence of parties actions directed to other purposes.
2. In second case, hypothec originates in force of contract, which unambiguously legalizes the declaration of parties- will.
3. Conformably to such hypothec there is no essential element of bargain - will and declaration of will of parties for origination of hypothec.
4. The security holder shall obtain the right in respect of the pledged assets from the moment of registration of the pledge with the Hypothec Register.

Granted

1. A hypothec may be granted to secure any obligation whatever.
2. A hypothec without delivery must be granted in writing (art.

Debt

1. The workman's right to legal hypothec is personal.
2. A construction legal hypothec can be discharged by payment of the debt.
3. A hypothec may be conventional or legal.

Civil

1. The hypothec provisions of the Civil Code continue to emphasize legal title.
2. The main focus of the paper is the mortgage, or hypothec, as it may be called in civil law countries.
3. Also Article 355 of Civil Code provides that cession of right under hypothec contract means a cession of right under liability secured by hypothec.

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