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The lien in the course of our life meets many of us. Most often when building their own housing when you take a mortgage from a bank (and stop her property), but we can stop and a movable thing in a pawn shop, or simply use the Institute pledge between any creditor medrano express and the debtor.
In this article, however, we focus exclusively on real estate collateral and how a lien works under the new Civil Code. Finally, I will try to explain if and how it will affect stopping new institutions being established new Labour Code, which will enter into force on 1 January 2014.
To make the text was not just dry theory, at the end of each section we will follow the path of a young married couple for their dream house. In their way stands obstacles in the form of intricate laws, limited financial possibilities of a well-intentioned advice from near and distant relatives. Overcome all obstacles and obtain your,, dream house "? We'll see ...
The lien is one of the most widely used methods to ensure (`guarantee a") debt. As long as the debt is a mortgage, the lender increases the certainty that your money will not come, because if the borrower fails to pay its debt on time, the creditor can satisfy from the sale of the pledged thing. How does it work?
First, there must be a relationship lender - borrower. To the borrower borrows something (usually money) and the debtor medrano express undertakes medrano express a certain date to return. Therefore, in order to strengthen the position of the creditor, shall enter into a debtor and creditor lien contract. At the ujednají what subject stops-ie, what will serve as collateral (see below), for which the debt is the lien and other essentials.
What is important is the fact that the pledge is not necessarily the property of the debtor-may include third party that his case be granted as collateral, which becomes medrano express a lien debtor. The pledge agreement, however, continue entering into a personal debtor, who also signing a contract thing to pledge giving, and thus becomes a stop. Pledgor may pledge a foreign thing only with the consent of the owner. In most cases, medrano express however, the pledge debtor and the pledgor one and the same person.
Meet Pepa and Maruska - a young married medrano express couple who wants to build a house in a satellite town near Prague. Unfortunately for building a house without sufficient money, so they decide to take out a mortgage with the bank. The bank is willing to lend, but requires an adequate medrano express return on the property as collateral. Joe logically offer as collateral house that is going to build (or the first building, then the house), but the bank is afraid that the house due to its position