{"id":33853,"date":"2020-04-07T17:11:54","date_gmt":"2020-04-07T15:11:54","guid":{"rendered":"https:\/\/gesvalt.es\/?p=33853"},"modified":"2020-04-07T17:11:54","modified_gmt":"2020-04-07T15:11:54","slug":"pledge-pledge-pledge-collateral-pledge-pledge-loan","status":"publish","type":"post","link":"https:\/\/gesvalt.es\/en\/blog\/prenda-pignoracion-garantia-prestamo\/","title":{"rendered":"The Pledge or Pledge when taking out a loan"},"content":{"rendered":"

Faced with an obligation, the debtor responds with all his present and future assets, but sometimes the creditor may consider that this solvency is not sufficient and demand additional guarantees to ensure compliance with the obligation. For this reason, we speak of personal guarantees, when a person other than the debtor is also required to respond to his obligation (guarantee or surety) or real guarantees, when certain assets are affected (pledge or mortgage) for its fulfilment.<\/p>\n\n\n\n

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I WANT ADVICE<\/a><\/div>\n<\/div>\n \n\n\n\n

However, it will be clearer if we explain each one of them. In this post we will tell you about the garment, and in This link will tell you more about the Chattel Mortgage.<\/a>.<\/p>\n\n\n\n

What is the Prenda?<\/h2>\n\n\n\n

A pledge is a security right that grants the holder possession of a movable thing owned by the pledgor, so that, in the event of non-fulfilment of the obligation, the creditor can sell the pledged thing and use the proceeds to pay the debt.<\/p>\n\n\n\n

What is the difference between a pledge and a mortgage?<\/h2>\n\n\n\n

Both being security interests, in the pledge the possession of the thing is transferred to the creditor, whereas in the mortgage the possessor of the thing remains the debtor.<\/p>\n\n\n\n

The requirement in the case of a pledge is the delivery of the thing, so that it remains in the possession of the creditor or of a third party by mutual agreement. Physical delivery or notification by the debtor to the pledgor is essential.<\/p>\n\n\n\n

What are the most common pledge contracts?<\/h2>\n\n\n\n

The most common types of pledged collateral include cash, fixed-term deposits, securities, bills of exchange, goods, machinery, receivables, rights of use or exploitation, works of art etc.<\/p>\n\n\n\n

What is a Nonpossessory Pledge?<\/h2>\n\n\n\n

The non-possessory pledge is a particular case of pledge.<\/p>\n\n\n\n

Although we have previously commented that the right is constituted with the physical delivery of the thing, in certain assets of great value, such as those destined for agricultural or industrial activities, depriving the debtor of the possession of the pledge can be a serious inconvenience. For these cases, the law establishes the possibility of constituting the pledge in a public deed or in an executed policy, which must be recorded in the special register established in the Land Registry. However, Articles 52, 53 and 54 of the Law on Chattel Mortgages and Nonpossessory Pledges of 16 December 1954 expressly list the assets that can be pledged under the non-possessory pledge.<\/p>\n\n\n\n

The owner may use the pledged assets without impairing their value, granting the creditor the right to verify the existence of the pledged assets and to inspect their condition.<\/p>\n\n\n\n

What happens in case of non-compliance with the obligation?<\/h2>\n\n\n\n

If the creditor does not satisfy his claim, the pledge may be sold at public auction before a notary, with the summons of the debtor and of the owner of the pledge, if they are different persons. After the first and second auctions have been held without result, the creditor may become the owner of the pledge, in which case he shall give a letter of payment for the totality of his claim.<\/p>\n\n\n\n

Which parties are involved and what are the rights and obligations of each party?<\/h2>\n\n\n\n
  1. The pledgor: He remains the owner of the thing and retains all his rights except for possession. He is therefore obliged to guarantee the costs of conservation and maintenance of the thing and, of course, to pay the guaranteed obligation with its corresponding costs. <\/li>
  2. The pledgee: has the right to retain the thing until fulfilment of the secured obligation, to the collection of the expenses of conservation and maintenance and, if the pledge produces interest, to apply it to the offsetting of debts. <\/li><\/ol>\n\n\n\n

    Their obligations include taking care of the thing received in pledge with due diligence, being liable for its loss or deterioration, not using it unless authorised and returning it once the principal plus the expenses of the guaranteed obligation have been paid.<\/p>\n\n\n\n

    Why request an independent expert valuation?<\/h2>\n\n\n\n

    When negotiating additional collateral, the value of the collateral needs to be commensurate with the amount and terms of the obligations secured.<\/p>\n\n\n\n

    For this purpose, in the case of less liquid collateral, such as machinery, works of art, rights of use, etc., they should be accompanied by a value report from an independent expert attesting to their fair or market value.<\/p>","protected":false},"excerpt":{"rendered":"

    Faced with an obligation, the debtor responds with all his present and future assets, but sometimes the creditor may consider that this solvency is not sufficient and demand additional guarantees to ensure the fulfilment of the obligation.<\/p>","protected":false},"author":1,"featured_media":66830,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5,52],"tags":[120],"class_list":["post-33853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-particulares","category-valoracion","tag-valoracion-de-bienes"],"acf":[],"_links":{"self":[{"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/posts\/33853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/comments?post=33853"}],"version-history":[{"count":0,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/posts\/33853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/media\/66830"}],"wp:attachment":[{"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/media?parent=33853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/categories?post=33853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gesvalt.es\/en\/wp-json\/wp\/v2\/tags?post=33853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}