What is a declaration of purpose for land charges?
What is a declaration of purpose? The declaration of purpose or security agreement is a contract between the bank and the borrower in which both parties agree which specific claims and liabilities are to be secured with the land charge.
What is the collateral provider?
The collateral provider is a natural or legal person who provides the lender with loan security from their assets or is liable for the borrower with their assets. The buyer of protection is whoever accepts a loan security, usually a credit institution that has granted the loan.
What are the statutory security rights?
The typical statutory liens with which contractual security interests can also compete are, in particular, the landlord’s lien in accordance with Section 562 of the German Civil Code, the contractor’s lien in accordance with Section 647 of the German Civil Code, the carrier’s lien in accordance with Section 440 of the German Commercial Code, the forwarder’s lien in accordance with Section 464 of the German Commercial Code and the right of lien …
What is property?
About the concept of property According to Roman law, the BGB understands “property” as a comprehensive right to rule over a thing. The owner combines all powers of control over a thing.
What do we mean by possession and property?
the actual control of a person over a thing recognized by traffic (§§ 854 ff. BGB) should not be confused with property. The owner is whoever legally owns the thing, the owner who actually owns it (e.g. also the thief). Possession is hereditary and i.
What is the difference between wealth and property?
The result is: assets> property. Property is the legal control of a thing (BGB 903). Wealth refers not only to your property, but also to your possessions. Wealth is what you have when it is paid for or when you have money (a lot of money).
What is the difference between owning and owning?
In this regard, Section 854, Paragraph 1 of the German Civil Code (BGB) states the following – Possession of a thing is acquired by gaining actual control over the thing. However, property does not have the comprehensive right of an owner to rule. As the owner you can live in the rented house.
When does property become property?
An owner is the one in whose sphere of influence the thing is and who can therefore access it. Delimitation: Possession is a fact, property, on the other hand, is the right to a thing. Often the owner has his thing himself. Then he is also the owner.
What can the owner of a thing do with it?
This means that property is a comprehensive right to rule over a thing. An owner can do whatever he wants with something. He can, for example, remodel the house – with any necessary permission, of course -, sell it again, rent it out or paint it green.
Who can have property and property rights?
The right of property and possession belongs to the area of property law, ie it only relates to property. The owner can demand the surrender of an item from the owner, unless the owner is entitled to possession vis-à-vis the owner, e.g. in the case of an effective rental agreement for the item.
When can I dispose of someone else’s property?
In principle, it is illegal to dispose of someone else’s property and thus destroy it. Anyone who negligently injures someone else’s property is liable for damages in accordance with Section 823 I of the German Civil Code (BGB). Your ex-girlfriend must have acted culpably, that is, willful or negligent.
Who has the registration document is the owner?
However, ownership is not to be confused with ownership and the vehicle registration document is only a document of evidence; consequently, he cannot transfer ownership. Conclusion: the owner of a vehicle is the person who has purchased it. It is irrelevant whether it is entered in the vehicle registration document or not.
What rights does the owner have?
First of all, the owner has the right to self-help under Section 859. Section 859 II stipulates that the owner of the person who takes a movable thing away from him by means of prohibited self-power may take it off again by force if he affects or persecutes him in the act (return of possession).
How do I become an owner?
One becomes the owner of a movable property with agreement and handover. Exceptions are deliberately hidden. In the case of shoes, that is, when both parties agree that ownership of the shoes should be transferred and that they should be handed over, i.e. that immediate possession of them should be obtained.
Who is the owner or owner liable?
Liability of the owner An owner cannot assert any claims for damages against an honest, i.e. uncontested and bona fide owner. If the owner has acquired possession free of charge, he must, however, surrender the uses drawn according to Section 988 of the German Civil Code (BGB) in accordance with the rules of the law of enrichment.
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